International Paper to Post Q2 2024 Earnings of $0.38 Per Share, Zacks Research Forecasts (NYSE:IP)

International Paper (NYSE:IP) – Zacks Research lowered their Q2 2024 earnings estimates for International Paper in a report issued on Wednesday, June 26th. Zacks Research analyst M. Das now forecasts that the basic materials company will post earnings of $0.38 per share for the quarter, down from their previous estimate of $0.39. The consensus estimate for International Paper’s current full-year earnings is $1.85 per share. Zacks Research also issued estimates for International Paper’s Q3 2024 earnings at $0.57 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $1.81 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.70 EPS, Q4 2025 earnings at $0.71 EPS, FY2025 earnings at $2.56 EPS, Q1 2026 earnings at $0.73 EPS and FY2026 earnings at $3.44 EPS.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company upped their price objective on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their price target for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $52.00 target price on shares of International Paper in a report on Thursday. Finally, Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

International Paper Stock Down 0.2 %

Shares of NYSE:IP opened at $43.17 on Friday. The company has a market cap of $14.99 billion, a price-to-earnings ratio of 88.10 and a beta of 1.06. International Paper has a 12 month low of $30.78 and a 12 month high of $47.40. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $41.76 and a 200 day moving average price of $38.37.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the previous year, the company earned $0.53 EPS. International Paper’s revenue for the quarter was down 8.0% compared to the same quarter last year.

Hedge Funds Weigh In On International Paper

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its stake in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. CVA Family Office LLC purchased a new position in shares of International Paper during the 4th quarter valued at about $27,000. MCF Advisors LLC lifted its holdings in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after buying an additional 624 shares during the period. Crewe Advisors LLC acquired a new stake in International Paper during the first quarter worth about $29,000. Finally, Assetmark Inc. raised its position in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 649 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the sale, the director now owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 3,600 shares of company stock worth $144,744 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Thursday, May 23rd. International Paper’s payout ratio is currently 377.55%.

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.