International Paper Expected to Post Q2 2024 Earnings of $0.44 Per Share (NYSE:IP)

International Paper (NYSE:IP) – Stock analysts at Zacks Research upped their Q2 2024 EPS estimates for shares of International Paper in a research note issued on Friday, April 19th. Zacks Research analyst M. Das now expects that the basic materials company will earn $0.44 per share for the quarter, up from their previous forecast of $0.40. The consensus estimate for International Paper’s current full-year earnings is $1.91 per share. Zacks Research also issued estimates for International Paper’s Q3 2024 earnings at $0.55 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $1.81 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.66 EPS and FY2025 earnings at $2.48 EPS.

International Paper (NYSE:IP) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue was down 10.4% compared to the same quarter last year.

IP has been the subject of a number of other reports. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Truist Financial reissued a “buy” rating and set a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Wells Fargo & Company lowered their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, International Paper currently has an average rating of “Hold” and an average target price of $37.13.

International Paper Stock Performance

Shares of IP stock opened at $34.41 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. The stock has a market cap of $11.95 billion, a PE ratio of 41.96 and a beta of 0.99. The stock has a 50-day moving average of $36.72 and a 200-day moving average of $35.84. International Paper has a one year low of $29.00 and a one year high of $41.28.

Insiders Place Their Bets

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,800 shares of company stock worth $310,438 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IP. Franklin Resources Inc. grew its position in International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of International Paper during the third quarter valued at about $144,509,000. Norges Bank acquired a new stake in shares of International Paper during the fourth quarter valued at about $94,913,000. Acadian Asset Management LLC boosted its stake in shares of International Paper by 208.0% during the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock valued at $57,129,000 after purchasing an additional 1,087,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of International Paper by 13.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after purchasing an additional 1,011,315 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

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.