Wall Street analysts predict that International Paper Co (NYSE:IP) will announce earnings per share (EPS) of $1.06 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for International Paper’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.30. International Paper reported earnings of $1.56 per share during the same quarter last year, which suggests a negative year over year growth rate of 32.1%. The business is scheduled to announce its next quarterly earnings report on Thursday, October 24th.
On average, analysts expect that International Paper will report full year earnings of $4.53 per share for the current year, with EPS estimates ranging from $4.31 to $4.80. For the next financial year, analysts expect that the firm will post earnings of $4.00 per share, with EPS estimates ranging from $3.54 to $4.70. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover International Paper.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.14. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm posted $1.19 EPS. International Paper’s quarterly revenue was down 2.8% compared to the same quarter last year.
Several research firms recently weighed in on IP. UBS Group set a $50.00 price target on International Paper and gave the company a “buy” rating in a report on Monday, June 24th. Citigroup lowered International Paper from a “buy” rating to a “neutral” rating and decreased their price target for the company from $53.00 to $45.00 in a report on Thursday, July 11th. KeyCorp restated a “sell” rating and set a $38.00 price target on shares of International Paper in a report on Thursday, July 25th. Finally, Stephens lowered International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $47.82.
In other International Paper news, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $44.97, for a total value of $1,012,139.79. Following the sale, the senior vice president now owns 61,554 shares in the company, valued at $2,768,083.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Phocas Financial Corp. bought a new stake in International Paper during the second quarter valued at about $45,000. Kovitz Investment Group Partners LLC boosted its position in International Paper by 6.0% during the second quarter. Kovitz Investment Group Partners LLC now owns 99,835 shares of the basic materials company’s stock valued at $4,325,000 after purchasing an additional 5,656 shares in the last quarter. Maverick Capital Ltd. bought a new stake in International Paper during the second quarter valued at about $1,137,000. One Wealth Advisors LLC boosted its position in International Paper by 291.3% during the second quarter. One Wealth Advisors LLC now owns 10,572 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 7,870 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in International Paper during the second quarter valued at about $911,000. Institutional investors and hedge funds own 82.02% of the company’s stock.
NYSE:IP traded up $0.33 during midday trading on Monday, hitting $39.32. 2,961,649 shares of the company traded hands, compared to its average volume of 3,091,088. The firm’s fifty day moving average is $42.29 and its 200-day moving average is $44.56. International Paper has a 12-month low of $37.55 and a 12-month high of $54.95. The firm has a market capitalization of $15.18 billion, a P/E ratio of 7.39, a P/E/G ratio of 1.71 and a beta of 1.49. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 1.38.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $2.00 dividend on an annualized basis and a yield of 5.09%. International Paper’s payout ratio is 37.59%.
About International Paper
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 involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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