Seaport Res Ptn Issues Optimistic Estimate for IP Earnings

International Paper (NYSE:IP) – Stock analysts at Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for International Paper in a research report issued to clients and investors 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 firms have also issued reports on IP. Wells Fargo & Company lifted their price target on 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 reaffirmed a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Price Performance

Shares of IP opened at $56.93 on Thursday. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. The firm’s 50-day simple moving average is $49.96 and its two-hundred day simple moving average is $46.27. The stock has a market cap of $19.78 billion, a PE ratio of 48.66 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

Insiders Place Their Bets

In other news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at $792,729.36. This represents a 22.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,840 shares of company stock valued at $910,826. Insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

Institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. FMR LLC lifted its holdings in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of International Paper by 133.7% during the second 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 acquiring an additional 8,132,332 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in International Paper by 0.3% in the 3rd 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 acquiring an additional 9,774 shares during the last quarter. 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.