International Paper (NYSE:IP – Free Report) – Research analysts at Zacks Research lifted their Q1 2024 earnings per share estimates for shares of International Paper in a note issued to investors on Wednesday, September 13th. Zacks Research analyst M. Das now forecasts that the basic materials company will post earnings per share of $0.44 for the quarter, up from their prior estimate of $0.40. The consensus estimate for International Paper’s current full-year earnings is $2.21 per share. Zacks Research also issued estimates for International Paper’s Q2 2024 earnings at $0.47 EPS, Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $1.74 EPS, Q1 2025 earnings at $0.41 EPS, Q2 2025 earnings at $0.45 EPS and FY2025 earnings at $1.79 EPS.
A number of other research analysts also recently issued reports on the company. Citigroup upped their price target on International Paper from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, July 31st. UBS Group dropped their price target on International Paper from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 19th. StockNews.com started coverage on International Paper in a research note on Friday, August 18th. They set a “buy” rating for the company. Bank of America downgraded International Paper from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $35.00 to $33.00 in a report on Monday, July 10th. Finally, Truist Financial cut their price target on International Paper from $38.00 to $29.00 and set a “hold” rating on the stock in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, International Paper currently has an average rating of “Hold” and an average price target of $36.30.
International Paper Price Performance
IP opened at $34.24 on Monday. The stock has a market capitalization of $11.85 billion, a PE ratio of 11.77 and a beta of 1.07. The stock’s 50 day moving average price is $34.10 and its 200-day moving average price is $33.61. International Paper has a 52-week low of $29.00 and a 52-week high of $41.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.12 and a current ratio of 1.59.
International Paper (NYSE:IP – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.17. The business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.90 billion. International Paper had a return on equity of 12.22% and a net margin of 5.14%. The business’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS.
International Paper Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend was Monday, August 14th. International Paper’s dividend payout ratio (DPR) is 63.57%.
Insider Activity
In related news, VP Holly G. Goughnour sold 2,500 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.70, for a total value of $89,250.00. Following the transaction, the vice president now owns 8,219 shares of the company’s stock, valued at $293,418.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company’s stock.
Institutional Investors Weigh In On International Paper
Several institutional investors have recently modified their holdings of the company. MRP Capital Investments LLC acquired a new position in shares of International Paper during the 1st quarter worth approximately $25,000. Delta Asset Management LLC TN acquired a new position in International Paper in the 4th quarter valued at $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of International Paper during the 4th quarter worth $27,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of International Paper by 98.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 822 shares of the basic materials company’s stock worth $30,000 after buying an additional 407 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its holdings in shares of International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.
About International Paper
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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