International Paper Company (NYSE:IP).
On October 18 the stock rating was downgraded to “Underperform” from “Neutral” in a statement from Macquarie. On October 17 Citigroup kept the stock rating at “Neutral” and lowered the price target to $51.00 from $53.00.
On September 22, 2016 Goldman Sachs starting coverage on the stock with an initial rating of “Neutral” and projecting a price target of $49.00. August 31 investment analysts at Citigroup made no change to the stock rating of “Neutral” but moved up the price target from $36.00 to $53.00.
On July 29 Jefferies left the stock rating at “Hold” but raised the price expectation to $49.00 from $44.00.
The company is trading up by 0.30% since yesterday’s close of $57.04. Additionally the company recently declared a dividend for shareholders paid on Thursday the 15th of June 2017. The dividend was $0.463 per share for the quarter or $1.85 on an annualized basis. The dividend yield was $3.23. The ex-dividend date was Wednesday the 24th of May 2017.
Company shares last traded at $57.21 a tad above the 50 day moving average of $54.19 and which is a tad above the 200 day moving average of $53.16. The 50 day moving average went up $3.02 or +5.58% and the 200 day average went up $4.05 or +7.61%.
International Paper Company, launched on June 23, 1941, is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Business’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging. As of December 31, 2016, the Company operated 29 pulp, paper and packaging mills, 170 converting and packaging plants, 16 recycling plants and three bag facilities in the United States. As of December 31, 2016, the production facilities in Canada, Europe, Asia, Africa, India, Latin America included 17 pulp, paper and packaging mills, 68 converting and packaging plants, and two recycling plants. As of December 31, 2016, the Company operated a printing and packaging products distribution business principally through 12 branches in Asia. The Company sells packaging products, paper products and other products directly to end users and converters, as well as through agents, resellers and paper distributors..
The company currently has a P/E ratio of 30.58 and the market value is 23.62B. As of the last earnings report the EPS was $1.87 and is expected to be $3.65 for the current year with 412,899,000 shares now outstanding. Next quarter’s EPS is forecasted at $1.20 and the next full year EPS is anticipated to be $4.32.