Seaport Res Ptn Has Negative Forecast for IP Q3 Earnings

International Paper (NYSE:IP) – Investment analysts at Seaport Res Ptn cut their Q3 2024 earnings per share (EPS) estimates for International Paper in a research note issued on Monday, October 21st. Seaport Res Ptn analyst M. Weintraub now expects that the basic materials company will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.28. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for International Paper’s current full-year earnings is $1.55 per share. Seaport Res Ptn also issued estimates for International Paper’s Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $1.40 EPS.

IP has been the topic of a number of other research reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Truist Financial lifted their target price on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus initiated coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target for the company. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

International Paper Price Performance

Shares of NYSE:IP opened at $49.04 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The firm has a market capitalization of $17.03 billion, a P/E ratio of 100.08 and a beta of 1.04. The company’s fifty day moving average price is $48.10 and its 200 day moving average price is $44.35.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.77%. International Paper’s dividend payout ratio is currently 377.55%.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the sale, the director now owns 41,002 shares of the company’s stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Clay R. Ellis sold 9,000 shares of the company’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 transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,440 shares of company stock worth $934,142. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On International Paper

A number of institutional investors and hedge funds have recently made changes to their positions in IP. Janney Montgomery Scott LLC grew its holdings in International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after purchasing an additional 17,516 shares during the last quarter. Wellington Management Group LLP raised its position 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 worth $7,599,000 after acquiring an additional 199,687 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after purchasing an additional 237,837 shares in the last quarter. Comerica Bank grew its position in shares of International Paper by 23.6% in the first quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock valued at $6,110,000 after purchasing an additional 29,904 shares during the last quarter. Finally, Sei Investments Co. increased its stake 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 worth $16,659,000 after purchasing an additional 35,857 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

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.