International Paper (NYSE:IP) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of International Paper (NYSE:IP - Free Report) in a report published on Thursday, MarketBeat.com reports. The firm issued an overweight rating and a $59.00 price target on the basic materials company's stock.

Several other analysts also recently weighed in on IP. Truist Financial restated a "buy" rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.32.

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International Paper Stock Up 3.1 %

Shares of IP stock traded up $1.60 on Thursday, reaching $52.99. 8,781,619 shares of the stock were exchanged, compared to its average volume of 9,907,057. The company has a market capitalization of $27.88 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 0.39 and a beta of 1.02. The business's 50 day moving average price is $54.94 and its 200 day moving average price is $53.54. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.49%. International Paper's payout ratio is 117.83%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. OneDigital Investment Advisors LLC increased its stake in shares of International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company's stock worth $284,000 after acquiring an additional 314 shares during the period. Empowered Funds LLC boosted its holdings in International Paper by 49.8% in the 3rd quarter. Empowered Funds LLC now owns 42,628 shares of the basic materials company's stock valued at $2,082,000 after purchasing an additional 14,178 shares in the last quarter. Natixis Advisors LLC increased its position in International Paper by 1.8% during the 3rd quarter. Natixis Advisors LLC now owns 232,142 shares of the basic materials company's stock worth $11,340,000 after purchasing an additional 4,135 shares during the period. Swiss National Bank raised its stake in shares of International Paper by 0.5% during the 3rd quarter. Swiss National Bank now owns 979,000 shares of the basic materials company's stock worth $47,824,000 after buying an additional 4,700 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in shares of International Paper by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 55,009 shares of the basic materials company's stock valued at $2,687,000 after buying an additional 1,130 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Company Profile

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.