International Paper (NYSE:IP) Stock Price Breaks Above 50 Day Moving Average – What’s Next?

International Paper Company (NYSE:IP) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $34.38 and traded as high as $34.71. International Paper shares last traded at $34.5410, with a volume of 4,488,303 shares changing hands.

Wall Street Analyst Weigh In

IP has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on International Paper from $62.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Seaport Research Partners reaffirmed a “buy” rating and issued a $46.00 price objective on shares of International Paper in a report on Wednesday, August 12th. Argus reiterated a “buy” rating and set a $45.00 target price on shares of International Paper in a research note on Thursday, September 24th. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a report on Saturday. Finally, UBS Group dropped their target price on shares of International Paper from $47.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.44.

International Paper Price Performance

The company has a market capitalization of $18.29 billion, a P/E ratio of -5.27, a price-to-earnings-growth ratio of 5.11 and a beta of 0.97. The company has a fifty day moving average price of $34.38 and a 200 day moving average price of $37.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.77.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the firm earned ($0.43) EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts forecast that International Paper Company will post 1.14 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 annualized dividend and a yield of 5.4%. International Paper’s dividend payout ratio (DPR) is currently -28.20%.

Institutional Investors Weigh In On International Paper

A number of hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Wealth Management LLC acquired a new stake in shares of International Paper in the 2nd quarter worth about $27,000. Salomon & Ludwin LLC acquired a new position in International Paper during the 3rd quarter valued at about $25,000. Ascentis Independent Advisors bought a new position in International Paper in the 1st quarter worth about $28,000. Richardson Financial Services Inc. bought a new position in International Paper in the 3rd quarter worth about $26,000. Finally, Delta Asset Management LLC TN bought a new position in International Paper in the 2nd quarter worth about $31,000. 81.95% of the stock is currently owned by institutional investors.

About International Paper

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications.

The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.

International Paper serves customers across multiple regions, including North America and Europe.