International Paper (NYSE:IP) – Research analysts at Truist Securities cut their FY2021 earnings per share estimates for shares of International Paper in a research report issued to clients and investors on Wednesday, January 12th. Truist Securities analyst M. Roxland now expects that the basic materials company will post earnings of $4.15 per share for the year, down from their previous forecast of $4.34. Truist Securities has a “Hold” rating and a $50.00 price target on the stock. Truist Securities also issued estimates for International Paper’s Q4 2021 earnings at $0.98 EPS and FY2024 earnings at $5.00 EPS.
Several other equities analysts also recently commented on the company. UBS Group upped their price objective on International Paper from $47.00 to $52.00 and gave the company a “sell” rating in a research note on Tuesday, September 28th. Exane BNP Paribas downgraded International Paper from an “outperform” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Tuesday, October 19th. Royal Bank of Canada increased their target price on International Paper from $53.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 28th. Truist initiated coverage on International Paper in a research report on Wednesday, October 13th. They set a “hold” rating and a $50.00 target price on the stock. Finally, BMO Capital Markets restated a “buy” rating on shares of International Paper in a research report on Friday, November 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Paper has an average rating of “Hold” and a consensus target price of $57.31.
International Paper (NYSE:IP) last announced its earnings results on Wednesday, October 27th. The basic materials company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). International Paper had a return on equity of 18.42% and a net margin of 8.20%. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. International Paper’s quarterly revenue was up 11.5% on a year-over-year basis.
International Paper declared that its board has approved a share buyback plan on Tuesday, October 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 15th. Investors of record on Friday, February 18th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, February 17th. This represents a $1.85 dividend on an annualized basis and a yield of 3.74%. International Paper’s dividend payout ratio is presently 40.57%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in International Paper by 2.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 47,100,520 shares of the basic materials company’s stock valued at $2,887,733,000 after acquiring an additional 947,242 shares during the last quarter. Vanguard Group Inc. increased its stake in International Paper by 0.5% in the second quarter. Vanguard Group Inc. now owns 45,502,847 shares of the basic materials company’s stock valued at $2,789,779,000 after acquiring an additional 241,298 shares during the last quarter. BlackRock Inc. increased its stake in International Paper by 0.4% in the third quarter. BlackRock Inc. now owns 33,546,735 shares of the basic materials company’s stock valued at $1,875,935,000 after acquiring an additional 124,292 shares during the last quarter. State Street Corp increased its stake in International Paper by 3.4% in the second quarter. State Street Corp now owns 25,038,719 shares of the basic materials company’s stock valued at $1,535,124,000 after acquiring an additional 820,092 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in International Paper by 109.9% in the third quarter. Goldman Sachs Group Inc. now owns 8,957,262 shares of the basic materials company’s stock valued at $500,891,000 after acquiring an additional 4,689,181 shares during the last quarter. 81.34% of the stock is currently owned by institutional investors and hedge funds.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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