International Paper (NYSE:IP) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of International Paper (NYSE:IP) in a research report released on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $59.00 price objective on the basic materials company’s stock.

IP has been the subject of a number of other research reports. Citigroup assumed coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Truist Financial reissued a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Finally, Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Trading Down 1.9 %

Shares of International Paper stock opened at $51.29 on Thursday. The firm has a 50-day simple moving average of $54.96 and a two-hundred day simple moving average of $53.46. The company has a market cap of $26.99 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.61%. International Paper’s dividend payout ratio is presently 117.83%.

Institutional Trading of International Paper

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of International Paper by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company’s stock valued at $2,561,651,000 after buying an additional 368,648 shares during the period. Vanguard Group Inc. grew its stake in shares of International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after buying an additional 340,383 shares during the period. Capital Research Global Investors grew its stake in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after buying an additional 12,191,361 shares during the period. FMR LLC grew its stake in shares of International Paper by 48.9% in the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after buying an additional 8,720,575 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of International Paper by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock valued at $450,586,000 after buying an additional 24,816 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.