International Paper (NYSE:IP) Announces Earnings Results

International Paper (NYSE:IP) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14, Briefing.com reports. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis.

International Paper Stock Performance

Shares of International Paper stock traded down $0.04 during trading on Thursday, hitting $46.24. 12,605,726 shares of the stock were exchanged, compared to its average volume of 5,849,655. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 94.37 and a beta of 1.06. The company has a fifty day moving average price of $44.60 and a 200-day moving average price of $39.40. International Paper has a 1-year low of $31.76 and a 1-year high of $47.40. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.00%. International Paper’s dividend payout ratio is presently 377.55%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the transaction, the director now directly owns 43,402 shares in the company, valued at approximately $1,957,864.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,600 shares of company stock worth $150,594 in the last ninety days. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IP. Stifel Nicolaus began 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 on the stock. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Royal Bank of Canada lifted their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial lifted their price target on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.96.

About International Paper

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.