Zacks Research Weighs in on International Paper’s Q2 2024 Earnings (NYSE:IP)

International Paper (NYSE:IP) – Equities researchers at Zacks Research reduced their Q2 2024 EPS estimates for International Paper in a research report issued on Wednesday, June 26th. Zacks Research analyst M. Das now expects that the basic materials company will post earnings of $0.38 per share for the quarter, down from their prior forecast 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 research firms have also recently issued reports on IP. Wells Fargo & Company increased their target price on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial reiterated a “buy” rating and issued a $52.00 price target on shares of International Paper in a research note on Thursday. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and lifted their target price for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $44.71.

International Paper Stock Performance

Shares of IP stock opened at $43.27 on Friday. The company has a market capitalization of $15.03 billion, a P/E ratio of 88.30 and a beta of 1.06. International Paper has a 52 week low of $30.78 and a 52 week high of $47.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The company’s 50 day moving average price is $41.44 and its two-hundred day moving average price is $38.30.

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

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.28%. International Paper’s dividend payout ratio is currently 377.55%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the sale, the director now directly owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 3,600 shares of company stock valued at $144,744 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of International Paper

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

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.