Citigroup Lowers International Paper (NYSE:IP) to Neutral

Citigroup downgraded shares of International Paper (NYSE:IP) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has $45.00 price target on the basic materials company’s stock, down from their previous price target of $53.00.

A number of other research analysts also recently weighed in on the stock. Barclays restated a sell rating on shares of easyJet in a report on Monday, April 1st. Royal Bank of Canada upgraded shares of Snap from a sector perform rating to an outperform rating and raised their price target for the company from $10.00 to $17.00 in a report on Friday, April 5th. UBS Group restated a sell rating on shares of in a report on Monday, June 24th. Stephens set a $120.00 target price on shares of Electronic Arts and gave the stock a buy rating in a report on Monday, June 24th. Finally, Bank of America downgraded shares of Propetro from a buy rating to a neutral rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. International Paper presently has an average rating of Hold and an average target price of $48.80.

IP stock opened at $42.77 on Thursday. International Paper has a 12-month low of $37.55 and a 12-month high of $54.95. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 1.37. The stock has a market cap of $16.99 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. The business has a 50 day moving average of $43.20.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.20. International Paper had a net margin of 7.32% and a return on equity of 31.35%. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s revenue was up .4% compared to the same quarter last year. As a group, analysts expect that International Paper will post 5.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.50 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $2.00 annualized dividend and a yield of 4.68%. International Paper’s dividend payout ratio is 37.59%.

In other International Paper news, SVP Thomas J. Plath sold 1,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $45.17, for a total value of $45,170.00. Following the sale, the senior vice president now directly owns 30,671 shares in the company, valued at approximately $1,385,409.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeanmichel Ribieras sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total transaction of $234,250.00. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Swiss National Bank boosted its position in shares of International Paper by 1.7% during the 1st quarter. Swiss National Bank now owns 1,285,318 shares of the basic materials company’s stock valued at $59,472,000 after acquiring an additional 21,800 shares in the last quarter. Good Life Advisors LLC boosted its position in shares of International Paper by 10.3% during the 1st quarter. Good Life Advisors LLC now owns 7,913 shares of the basic materials company’s stock valued at $363,000 after acquiring an additional 736 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of International Paper by 124.6% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 242,273 shares of the basic materials company’s stock valued at $9,778,000 after acquiring an additional 134,400 shares in the last quarter. Wesbanco Bank Inc. boosted its position in shares of International Paper by 26.8% during the 1st quarter. Wesbanco Bank Inc. now owns 35,435 shares of the basic materials company’s stock valued at $1,640,000 after acquiring an additional 7,491 shares in the last quarter. Finally, Horizon Investments LLC acquired a new stake in shares of International Paper during the 1st quarter valued at about $258,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

About International Paper

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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Analyst Recommendations for International Paper (NYSE:IP)

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