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

International Paper (NYSE:IP) – Zacks Research raised their Q2 2024 earnings per share estimates for shares of International Paper in a note issued to investors on Friday, April 19th. Zacks Research analyst M. Das now forecasts that the basic materials company will earn $0.44 per share for the quarter, up from their previous estimate 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 announced its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company reduced their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and upped their price target for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. Finally, Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Performance

International Paper stock opened at $34.76 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 firm has a market capitalization of $12.07 billion, a P/E ratio of 42.39 and a beta of 0.99. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The company’s 50-day moving average is $36.72 and its 200 day moving average is $35.84.

Hedge Funds Weigh In On International Paper

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in International Paper by 61.9% during the third quarter. CWM LLC now owns 14,569 shares of the basic materials company’s stock valued at $517,000 after acquiring an additional 5,569 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of International Paper by 140.1% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,013 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 1,758 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of International Paper in the 3rd quarter worth $971,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in International Paper during the 3rd quarter worth $434,000. Finally, IFP Advisors Inc increased its position in International Paper by 380.3% during the 3rd quarter. IFP Advisors Inc now owns 26,442 shares of the basic materials company’s stock valued at $938,000 after buying an additional 20,937 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is currently owned by corporate 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.