International Paper (IP) To Go Ex-Dividend on November 15th

International Paper (NYSE:IP) announced a quarterly dividend on Monday, October 14th, RTT News reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.4625 per share by the basic materials company on Monday, December 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, November 15th.

International Paper has decreased its dividend by an average of 3.4% per year over the last three years. International Paper has a dividend payout ratio of 67.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Paper to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 69.8%.

International Paper Trading Down 0.7 %

Shares of NYSE:IP opened at $47.73 on Wednesday. International Paper has a 12-month low of $31.76 and a 12-month high of $50.68. The stock has a market cap of $16.58 billion, a PE ratio of 97.41 and a beta of 1.04. The business has a 50 day moving average of $47.79 and a 200-day moving average of $44.03. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that International Paper will post 1.55 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock valued at $905,294 over the last 90 days. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IP. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Truist Financial boosted their price objective on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus initiated coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and an average price target of $50.46.

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.