International Paper Company (IP) to Issue Quarterly Dividend of $0.46 on June 12th

International Paper Company (NYSE:IP) declared a quarterly dividend on Tuesday, May 12th. Shareholders of record on Friday, May 22nd will be paid a dividend of 0.4625 per share by the basic materials company on Friday, June 12th. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, May 22nd.

International Paper has decreased its dividend by an average of 0.0%per year over the last three years. International Paper has a payout ratio of 54.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Paper to earn $2.69 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 68.8%.

International Paper Trading Down 3.2%

Shares of IP opened at $29.42 on Wednesday. The stock has a fifty day moving average price of $34.78 and a two-hundred day moving average price of $38.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. International Paper has a 52-week low of $29.36 and a 52-week high of $56.13. The company has a market cap of $15.58 billion, a price-to-earnings ratio of -4.62 and a beta of 0.93.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business posted $0.17 earnings per share. Analysts predict that International Paper will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IP has been the subject of several research reports. Citigroup lowered their target price on International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Stifel Nicolaus lowered their target price on International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research note on Monday, February 9th. Jefferies Financial Group lifted their target price on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lowered their target price on International Paper from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings cut International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.