International Paper Announces Quarterly Dividend of $0.46 (NYSE:IP)

International Paper (NYSE:IP) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.4625 per share by the basic materials company on Monday, March 17th. This represents a $1.85 annualized dividend and a dividend yield of 3.13%.

International Paper has decreased its dividend payment by an average of 2.6% annually over the last three years. International Paper has a payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect International Paper to earn $3.03 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 61.1%.

International Paper Price Performance

NYSE IP opened at $59.10 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The company has a market cap of $20.53 billion, a PE ratio of 50.51 and a beta of 1.03. International Paper has a 52 week low of $32.70 and a 52 week high of $60.36. The firm’s 50-day simple moving average is $56.19 and its two-hundred day simple moving average is $51.46.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the prior year, the company posted $0.64 EPS. International Paper’s revenue was up 1.6% compared to the same quarter last year. Research analysts predict that International Paper will post 1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Truist Financial raised their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.99.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,800 shares of company stock valued at $100,848. Insiders own 0.55% 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.