Seaport Res Ptn Has Positive Forecast for IP FY2024 Earnings

International Paper (NYSE:IP - Free Report) - Equities researchers at Seaport Res Ptn increased their FY2024 EPS estimates for International Paper in a research note issued on Monday, November 11th. Seaport Res Ptn analyst M. Weintraub now anticipates that the basic materials company will earn $1.62 per share for the year, up from their previous forecast of $1.40. The consensus estimate for International Paper's current full-year earnings is $1.24 per share. Seaport Res Ptn also issued estimates for International Paper's Q4 2024 earnings at $0.46 EPS and Q1 2025 earnings at $0.38 EPS.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same period last year, the business earned $0.64 earnings per share. The business's quarterly revenue was up 1.6% on a year-over-year basis.

IP has been the subject of a number of other reports. BNP Paribas lowered International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target for the company. in a research note on Wednesday. Truist Financial reaffirmed a "buy" rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. Argus upgraded International Paper from a "hold" rating to a "buy" rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, International Paper presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.54.

International Paper Trading Up 1.0 %

International Paper stock traded up $0.55 during mid-day trading on Thursday, hitting $56.93. The company's stock had a trading volume of 3,650,155 shares, compared to its average volume of 5,333,244. The stock has a market cap of $19.78 billion, a price-to-earnings ratio of 48.19 and a beta of 1.02. International Paper has a 12 month low of $31.76 and a 12 month high of $59.52. The business has a 50 day moving average price of $49.96 and a 200-day moving average price of $46.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, November 15th. International Paper's dividend payout ratio (DPR) is 158.12%.

Insider Activity at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company's stock, valued at $2,433,296.56. This trade represents a 15.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Clay R. Ellis sold 9,000 shares of the firm's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 15.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now owns 38,345 shares of the company's stock, valued at approximately $2,051,457.50. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,840 shares of company stock valued at $910,826. Insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IP. Envestnet Portfolio Solutions Inc. increased its position in shares of International Paper by 47.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,046 shares of the basic materials company's stock valued at $470,000 after purchasing an additional 3,854 shares during the last quarter. Empowered Funds LLC bought a new position in shares of International Paper in the 1st quarter worth $668,000. SG Americas Securities LLC raised its position in shares of International Paper by 52.4% during the 1st quarter. SG Americas Securities LLC now owns 45,720 shares of the basic materials company's stock valued at $1,784,000 after buying an additional 15,712 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of International Paper during the 1st quarter worth $219,000. Finally, Sei Investments Co. increased its position in shares of International Paper by 9.2% during the 1st quarter. Sei Investments Co. now owns 426,929 shares of the basic materials company's stock valued at $16,659,000 after purchasing an additional 35,857 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Company Profile

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.