International Paper Co (NYSE:IP) – Equities researchers at KeyCorp lifted their FY2019 earnings per share estimates for shares of International Paper in a research report issued to clients and investors on Thursday, October 25th. KeyCorp analyst A. Josephson now anticipates that the basic materials company will post earnings of $5.34 per share for the year, up from their prior estimate of $5.15.
Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group cut International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Wednesday, October 10th. Royal Bank of Canada reissued a “buy” rating and issued a $55.00 price target on shares of International Paper in a research note on Tuesday, October 23rd. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, August 1st. Seaport Global Securities started coverage on International Paper in a research note on Tuesday, October 23rd. They issued a “neutral” rating on the stock. Finally, Deutsche Bank set a $55.00 price target on International Paper and gave the stock a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $58.64.
International Paper (NYSE:IP) last released its earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.09. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.90 billion. International Paper had a return on equity of 29.42% and a net margin of 13.68%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.41%. The ex-dividend date is Wednesday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.48. International Paper’s payout ratio is 54.44%.
International Paper announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 9th that permits the company to buyback $430.00 million in shares. This buyback authorization permits the basic materials company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other International Paper news, SVP John V. Sims sold 4,725 shares of International Paper stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $54.35, for a total transaction of $256,803.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Timothy S. Nicholls sold 17,000 shares of International Paper stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total value of $893,010.00. Following the transaction, the insider now directly owns 108,538 shares in the company, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,725 shares of company stock worth $2,484,864. Company insiders own 0.32% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new stake in shares of International Paper during the 2nd quarter valued at about $106,000. Squar Milner Financial Services LLC acquired a new stake in shares of International Paper during the 2nd quarter valued at about $125,000. Flagship Harbor Advisors LLC acquired a new stake in shares of International Paper during the 2nd quarter valued at about $139,000. Diamant Asset Management Inc. acquired a new stake in shares of International Paper during the 3rd quarter valued at about $140,000. Finally, Vigilant Capital Management LLC lifted its holdings in shares of International Paper by 375.1% during the 2nd quarter. Vigilant Capital Management LLC now owns 3,088 shares of the basic materials company’s stock valued at $161,000 after buying an additional 2,438 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.
International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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