International Paper (NYSE:IP) Given “Sell” Rating at KeyCorp

KeyCorp reiterated their sell rating on shares of International Paper (NYSE:IP) in a report issued on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $31.00 target price on the basic materials company’s stock.

A number of other equities analysts have also recently commented on the stock. ValuEngine raised shares of International Paper from a sell rating to a hold rating in a research note on Tuesday, July 28th. Wells Fargo & Co boosted their price target on shares of International Paper from $32.00 to $34.00 and gave the stock an equal weight rating in a research note on Friday, May 1st. Morgan Stanley started coverage on shares of International Paper in a research note on Monday, June 15th. They issued an underweight rating and a $29.00 price target for the company. Deutsche Bank cut their price target on shares of International Paper from $46.00 to $40.00 and set a hold rating for the company in a research note on Tuesday, May 26th. Finally, Zacks Investment Research cut shares of International Paper from a hold rating to a sell rating and set a $36.00 price target for the company. in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. International Paper has a consensus rating of Hold and an average price target of $41.50.

Shares of NYSE IP traded down $0.97 during trading on Thursday, reaching $34.79. 4,047,941 shares of the stock traded hands, compared to its average volume of 2,405,005. The company has a 50-day moving average of $35.29 and a 200-day moving average of $36.07. The stock has a market capitalization of $13.67 billion, a P/E ratio of 21.74 and a beta of 1.33. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.79 and a quick ratio of 0.56. International Paper has a 52-week low of $26.38 and a 52-week high of $47.64.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.38. International Paper had a return on equity of 19.18% and a net margin of 2.98%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter last year, the firm posted $1.15 EPS. The company’s revenue was down 14.1% compared to the same quarter last year. Analysts expect that International Paper will post 2.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.5125 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.05 dividend on an annualized basis and a yield of 5.89%. International Paper’s dividend payout ratio is currently 46.28%.

A number of large investors have recently bought and sold shares of IP. FMR LLC grew its position in shares of International Paper by 4.3% in the 1st quarter. FMR LLC now owns 391,110 shares of the basic materials company’s stock worth $18,096,000 after buying an additional 16,114 shares during the period. Guggenheim Capital LLC lifted its stake in shares of International Paper by 14.7% in the 4th quarter. Guggenheim Capital LLC now owns 364,572 shares of the basic materials company’s stock worth $16,788,000 after purchasing an additional 46,855 shares during the period. Profund Advisors LLC lifted its stake in shares of International Paper by 17.1% in the 4th quarter. Profund Advisors LLC now owns 7,794 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 1,137 shares during the period. Wealth Quarterback LLC bought a new position in shares of International Paper in the 4th quarter worth approximately $39,000. Finally, Verus Capital Partners LLC bought a new position in shares of International Paper in the 4th quarter worth approximately $55,000. Institutional investors own 81.06% 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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