International Paper (NYSE:IP) Releases Quarterly Earnings Results

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

International Paper Stock Down 0.8 %

NYSE:IP traded down $0.47 during midday trading on Friday, reaching $55.07. The company had a trading volume of 1,544,242 shares, compared to its average volume of 5,300,792. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 45.52 and a beta of 1.04. The stock’s fifty day simple moving average is $48.35 and its 200-day simple moving average is $44.79. International Paper has a 12-month low of $31.76 and a 12-month high of $56.26. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given 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 dividend yield of 3.36%. International Paper’s dividend payout ratio is currently 151.64%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, 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. Over the last three months, insiders sold 18,840 shares of company stock worth $906,386. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

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

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.