International Paper to Post Q3 2024 Earnings of $0.22 Per Share, Zacks Research Forecasts (NYSE:IP)

International Paper (NYSE:IP) – Analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of International Paper in a research report issued to clients and investors on Wednesday, August 7th. Zacks Research analyst M. Das now expects that the basic materials company will post earnings per share of $0.22 for the quarter, down from their previous forecast of $0.58. The consensus estimate for International Paper’s current full-year earnings is $1.64 per share. Zacks Research also issued estimates for International Paper’s Q4 2024 earnings at $0.41 EPS, FY2024 earnings at $1.35 EPS, Q2 2025 earnings at $0.61 EPS and FY2025 earnings at $2.54 EPS.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. International Paper’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share.

IP has been the subject of several other research reports. Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial boosted their target price on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus began coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Royal Bank of Canada upped their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.96.

International Paper Stock Performance

Shares of IP stock opened at $44.35 on Friday. The stock has a market capitalization of $15.40 billion, a PE ratio of 90.51 and a beta of 1.06. The business’s 50 day simple moving average is $45.03 and its 200 day simple moving average is $40.06. 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 has a one year low of $31.76 and a one year high of $47.40.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.17%. International Paper’s payout ratio is presently 377.55%.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $44.58, for a total transaction of $26,748.00. Following the completion of the transaction, the director now owns 45,479 shares in the company, valued at $2,027,453.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,600 shares of company stock valued at $157,386 in the last 90 days. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA bought a new position in shares of International Paper during the second quarter valued at about $119,012,000. Brown Brothers Harriman & Co. increased its stake in shares of International Paper by 90.5% during the second quarter. Brown Brothers Harriman & Co. now owns 21,950 shares of the basic materials company’s stock valued at $947,000 after purchasing an additional 10,427 shares in the last quarter. WINTON GROUP Ltd purchased a new position in International Paper during the second quarter valued at $19,327,000. Diamond Hill Capital Management Inc. purchased a new position in shares of International Paper in the 2nd quarter worth about $81,187,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of International Paper by 3.3% in the second quarter. Envestnet Asset Management Inc. now owns 223,829 shares of the basic materials company’s stock worth $9,658,000 after buying an additional 7,068 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.