Seaport Res Ptn Brokers Lower Earnings Estimates for IP

International Paper (NYSE:IP) – Investment analysts at Seaport Res Ptn dropped their Q3 2024 earnings estimates for shares of International Paper in a report released on Monday, October 21st. Seaport Res Ptn analyst M. Weintraub now expects that the basic materials company will earn $0.27 per share for the quarter, down from their prior forecast of $0.28. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for International Paper’s current full-year earnings is $1.55 per share. Seaport Res Ptn also issued estimates for International Paper’s Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $1.40 EPS.

Other equities analysts have also issued research reports about the stock. Truist Financial raised their price objective on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Finally, Royal Bank of Canada upped their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.46.

International Paper Stock Up 1.3 %

IP opened at $47.52 on Wednesday. The company has a market capitalization of $16.51 billion, a PE ratio of 96.98 and a beta of 1.04. The business has a 50-day moving average of $48.04 and a 200-day moving average of $44.32. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68. 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 (NYSE:IP) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Impact Partnership Wealth LLC bought a new stake in International Paper in the 3rd quarter valued at $526,000. International Assets Investment Management LLC increased its stake in International Paper by 4,735.0% in the third quarter. International Assets Investment Management LLC now owns 418,133 shares of the basic materials company’s stock valued at $20,426,000 after acquiring an additional 409,485 shares during the period. Courier Capital LLC acquired a new position in International Paper in the third quarter worth about $225,000. BetterWealth LLC bought a new position in International Paper during the third quarter worth about $220,000. Finally, Greenleaf Trust boosted its holdings in International Paper by 13.6% during the third quarter. Greenleaf Trust now owns 8,452 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 1,009 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the completion of the transaction, the director now directly owns 38,945 shares in the company, valued at $1,872,475.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total transaction of $28,848.00. Following the completion of the transaction, the director now owns 38,945 shares of the company’s stock, valued at approximately $1,872,475.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $934,142 in the last 90 days. 0.55% of the stock is currently owned by insiders.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.89%. International Paper’s payout ratio is 377.55%.

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.