International Paper (NYSE:IP) Expected to Post Q2 2024 Earnings of $0.40 Per Share

International Paper (NYSE:IPFree Report) – Research analysts at Zacks Research lifted their Q2 2024 earnings estimates for shares of International Paper in a research report issued to clients and investors on Wednesday, March 20th. Zacks Research analyst M. Das now expects that the basic materials company will earn $0.40 per share for the quarter, up from their previous forecast of $0.39. The consensus estimate for International Paper’s current full-year earnings is $1.88 per share. Zacks Research also issued estimates for International Paper’s FY2024 earnings at $1.67 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.55 EPS and FY2025 earnings at $2.25 EPS.

Several other equities research analysts have also recently commented on the stock. Truist Financial reiterated a “buy” rating and set a $40.00 price target on shares of International Paper in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a report on Wednesday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, International Paper currently has a consensus rating of “Hold” and an average price target of $37.13.

Read Our Latest Research Report on International Paper

International Paper Price Performance

Shares of NYSE IP traded down $0.12 during trading on Friday, reaching $39.76. The company had a trading volume of 901,683 shares, compared to its average volume of 4,066,893. International Paper has a 52 week low of $29.00 and a 52 week high of $40.34. The stock has a market cap of $13.77 billion, a PE ratio of 48.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The business’s 50 day moving average price is $35.80 and its 200-day moving average price is $35.28.

International Paper (NYSE:IPGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the business posted $0.87 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis.

Hedge Funds Weigh In On International Paper

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Paper in the 4th quarter worth about $37,000. Wahed Invest LLC lifted its holdings in International Paper by 8.6% during the fourth quarter. Wahed Invest LLC now owns 5,909 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 468 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in International Paper during the fourth quarter valued at about $189,000. SageView Advisory Group LLC lifted its holdings in International Paper by 9.4% during the fourth quarter. SageView Advisory Group LLC now owns 22,688 shares of the basic materials company’s stock valued at $824,000 after purchasing an additional 1,944 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in International Paper by 1,896.7% during the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares during the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 7,600 shares of company stock worth $264,418 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.4625 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.85 dividend on an annualized basis and a yield of 4.65%. International Paper’s dividend payout ratio (DPR) is presently 225.61%.

About International Paper

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International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

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