International Paper (IP) Set to Announce Earnings on Thursday

International Paper (NYSE:IP) will announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.24 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

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, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts expect International Paper to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

International Paper Price Performance

Shares of IP stock opened at $49.04 on Thursday. The stock’s fifty day simple moving average is $48.10 and its 200 day simple moving average is $44.35. International Paper has a one year low of $31.76 and a one year high of $50.68. The firm has a market cap of $17.03 billion, a price-to-earnings ratio of 100.08 and a beta of 1.04. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IP. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Truist Financial boosted their target price on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.46.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total transaction of $28,848.00. Following the completion of the sale, the director now owns 38,945 shares in the company, valued at $1,872,475.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the transaction, the director now owns 38,945 shares of the company’s stock, valued at $1,872,475.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $934,142 over the last 90 days. 0.55% of the stock is owned by insiders.

About International Paper

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.