Equities Analysts Offer Predictions for IP FY2024 Earnings

International Paper (NYSE:IP) – Equities research analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of International Paper in a note issued to investors on Monday, November 11th. Seaport Res Ptn analyst M. Weintraub now expects that the basic materials company will post earnings of $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 $1.29 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) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS.

A number of other analysts have also recently commented on the company. Wells Fargo & Company upped their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their target price 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. Truist Financial reissued a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Stock Up 2.0 %

Shares of International Paper stock opened at $57.58 on Thursday. The business has a fifty day simple moving average of $50.15 and a 200 day simple moving average of $46.34. The stock has a market cap of $20.00 billion, a PE ratio of 48.50 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $31.76 and a 12 month high of $59.52.

Institutional Investors Weigh In On International Paper

Hedge funds have recently bought and sold shares of the company. Brophy Wealth Management LLC bought a new position in International Paper during the third quarter worth about $250,000. Vestcor Inc boosted its stake in shares of International Paper by 35.2% during the 3rd quarter. Vestcor Inc now owns 6,537 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 1,702 shares during the period. Barclays PLC raised its stake in International Paper by 4.5% in the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock valued at $44,774,000 after acquiring an additional 39,404 shares during the period. LRI Investments LLC raised its stake in International Paper by 1,551.6% in the 3rd quarter. LRI Investments LLC now owns 7,234 shares of the basic materials company’s stock valued at $353,000 after acquiring an additional 6,796 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in International Paper by 1.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 160,736 shares of the basic materials company’s stock valued at $7,852,000 after purchasing an additional 1,843 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 15.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock valued at $910,826 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

International Paper Announces Dividend

The firm also recently declared 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 of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.21%. International Paper’s payout ratio is currently 158.12%.

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.