International Paper’s (IP) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of International Paper (NYSE:IP) in a research note released on Wednesday,Benzinga reports. They currently have a $64.00 price objective on the basic materials company’s stock.

Several other research analysts have also commented on the company. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. StockNews.com raised shares of International Paper from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

Shares of NYSE:IP opened at $53.23 on Wednesday. The stock has a market cap of $28.01 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $54.86 and its two-hundred day simple moving average is $53.67. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

Hedge Funds Weigh In On International Paper

A number of hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in shares of International Paper by 68.8% during the fourth 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 last quarter. FMR LLC grew its position in International Paper by 48.9% during the fourth 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. Point72 Asset Management L.P. increased its stake in shares of International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Alyeska Investment Group L.P. increased its position in International Paper by 134.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock worth $212,522,000 after buying an additional 2,266,762 shares in the last quarter. Finally, Norges Bank bought a new position in shares of International Paper in the fourth quarter worth about $109,201,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.