Seaport Res Ptn Has Optimistic Outlook of IP FY2024 Earnings

International Paper (NYSE:IP) – Equities research analysts at Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for shares of International Paper in a report issued on Monday, November 11th. Seaport Res Ptn analyst M. Weintraub now forecasts that the basic materials company will earn $1.62 per share for the year, up from their prior 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.

Several other research analysts have also recently commented on IP. Argus raised 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. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Stock Performance

NYSE:IP opened at $56.38 on Thursday. The firm has a 50-day moving average of $49.96 and a two-hundred day moving average 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. The stock has a market cap of $19.59 billion, a P/E ratio of 48.19 and a beta of 1.02. International Paper has a 1-year low of $31.76 and a 1-year high of $59.52.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.64 earnings per share.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock worth $910,826 in the last three months. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IP. Price T Rowe Associates Inc. MD increased its stake in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after acquiring an additional 5,492,035 shares during the period. FMR LLC increased its position in shares of International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the period. Bank of New York Mellon Corp raised its stake in shares of International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after buying an additional 8,132,332 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after buying an additional 9,774 shares during the period. 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.