International Paper (NYSE:IP) Posts Earnings Results, Beats Expectations By $0.20 EPS

International Paper (NYSE:IP) announced its earnings results on Thursday. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20, Briefing.com reports. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis.

International Paper Trading Up 0.4 %

Shares of NYSE IP traded up $0.23 during trading on Friday, hitting $55.77. 10,454,784 shares of the company were exchanged, compared to its average volume of 5,342,824. The firm has a market capitalization of $19.37 billion, a PE ratio of 45.71 and a beta of 1.04. International Paper has a 12-month low of $31.76 and a 12-month high of $56.26. The company has a fifty day moving average price of $48.48 and a 200-day moving average price of $44.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59.

International Paper Dividend Announcement

The business 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 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is currently 151.64%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective 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. Stifel Nicolaus started coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target for the company. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Truist Financial reissued a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday. Finally, Royal Bank of Canada raised 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. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus target price of $51.96.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the sale, the director now directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $938,486 over the last 90 days. 0.55% of the stock is owned by insiders.

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.