International Paper Co (IP) was Downgraded by RBC Capital Mkts to ” Sector Perform” and the brokerage firm has set the Price Target at $46. Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Apr 25, 2016.
On the company’s financial health, International Paper Co reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $0.82. The company had revenue of $5443.00 million for the quarter, compared to analysts expectations of $5685.07 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.
International Paper Co opened for trading at $42.73 and hit $43.49 on the upside on Friday, eventually ending the session at $43.36, with a gain of 1.86% or 0.79 points. The heightened volatility saw the trading volume jump to 29,53,235 shares. Company has a market cap of $17,828 M.
In a different news, on Mar 16, 2016, Tommy S Joseph (Senior Vice President) sold 12,000 shares at $39.67 per share price. According to the SEC, on Mar 15, 2016, Sharon R. Ryan (SVP, GC and Corp Secretary) sold 25,730 shares at $40.26 per share price. On Mar 1, 2016, Carleton C Ealy (Senior Vice President) sold 17,000 shares at $36.66 per share price, according to the Form-4 filing with the securities and exchange commission.
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America Europe Latin America Russia Asia Africa and the Middle East. The Company operates in three segments: Industrial Packaging Printing Papers and Consumer Packaging. Industrial Packaging segments products include linerboard medium whitetop recycled linerboard recycled medium and saturating kraft. Printing Papers segment products include uncoated papers which engage in the business of producing papers for use in copiers desktop and laser printers and pulp which manufactures printing writing and specialty papers tissue products and filtration products. Consumer Packagings coated paperboard business produces coated paperboard for packaging and commercial printing end uses. Its foodservice business produces cups lids food containers and plates. Its brands include Hammermill Springhill Accent Ballet Rey Pol Everest Fortress and Carolina.