Analysts Issue Forecasts for International Paper’s Q2 2023 Earnings (NYSE:IP)

Posted by on May 4th, 2023

International Paper (NYSE:IP – Get Rating) – Seaport Res Ptn cut their Q2 2023 earnings per share estimates for International Paper in a research note issued to investors on Sunday, April 30th. Seaport Res Ptn analyst M. Weintraub now anticipates that the basic materials company will post earnings per share of $0.45 for the quarter, down from their prior forecast of $0.61. The consensus estimate for International Paper’s current full-year earnings is $2.84 per share. Seaport Res Ptn also issued estimates for International Paper’s Q3 2023 earnings at $0.80 EPS, Q4 2023 earnings at $0.67 EPS and FY2023 earnings at $2.45 EPS.

International Paper (NYSE:IP – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.03 billion. International Paper had a net margin of 6.28% and a return on equity of 14.87%. International Paper’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share.

Other analysts also recently issued research reports about the stock. 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of International Paper in a research report on Friday, April 28th. 51job reiterated a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Royal Bank of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and dropped their price objective for the stock from $40.00 to $39.00 in a report on Friday, April 28th. They noted that the move was a valuation call. Truist Financial boosted their price objective on shares of International Paper from $30.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 1st. Finally, 58.com restated a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Paper has an average rating of “Hold” and a consensus price target of $38.55.

International Paper Stock Performance

NYSE IP opened at $32.30 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.55 and a quick ratio of 0.97. International Paper has a 1-year low of $30.69 and a 1-year high of $49.32. The company has a market cap of $11.28 billion, a P/E ratio of 8.95 and a beta of 1.05. The stock has a 50-day moving average of $35.45 and a two-hundred day moving average of $35.99.

Insider Activity at International Paper

In other news, SVP Timothy S. Nicholls sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $38.95, for a total value of $194,750.00. Following the transaction, the senior vice president now owns 129,261 shares in the company, valued at approximately $5,034,715.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Timothy S. Nicholls sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $38.95, for a total value of $194,750.00. Following the completion of the transaction, the senior vice president now directly owns 129,261 shares of the company’s stock, valued at $5,034,715.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Aimee K. Gregg sold 1,862 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $36.05, for a total transaction of $67,125.10. Following the sale, the senior vice president now directly owns 4,260 shares in the company, valued at approximately $153,573. The disclosure for this sale can be found here. Insiders sold 93,567 shares of company stock valued at $3,261,447 in the last three months. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several institutional investors and hedge funds have recently made changes to their positions in IP. Royal Bank of Canada boosted its position in shares of International Paper by 5.4% during the 3rd quarter. Royal Bank of Canada now owns 4,019,663 shares of the basic materials company’s stock valued at $127,424,000 after acquiring an additional 206,004 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in International Paper by 11.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 169,548 shares of the basic materials company’s stock worth $5,871,000 after buying an additional 17,867 shares during the period. Thoroughbred Financial Services LLC increased its stake in International Paper by 79.5% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 14,275 shares of the basic materials company’s stock worth $452,000 after buying an additional 6,322 shares during the period. Itau Unibanco Holding S.A. increased its stake in International Paper by 1,459.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 11,864 shares of the basic materials company’s stock worth $376,000 after buying an additional 11,103 shares during the period. Finally, Forsta AP Fonden increased its stake in International Paper by 7.4% in the 4th quarter. Forsta AP Fonden now owns 157,700 shares of the basic materials company’s stock worth $5,461,000 after buying an additional 10,800 shares during the period. Institutional investors own 83.64% of the company’s stock.

International Paper Company Profile

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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 is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Earnings History and Estimates for International Paper (NYSE:IP)

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