International Paper Co. (NYSE:IP) issued its earnings results on Thursday. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The firm earned $5.30 billion during the quarter, compared to analyst estimates of $5.32 billion. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS.
A number of research firms recently issued reports on IP. Credit Suisse Group AG cut International Paper from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $46.00 to $47.00 in a report on Thursday, April 28th. Jefferies Group cut International Paper from a “buy” rating to a “hold” rating and cut their price target for the company from $51.00 to $47.00 in a report on Tuesday, May 3rd. Vetr cut International Paper from a “strong-buy” rating to a “buy” rating and set a $48.28 price target for the company. in a report on Monday, April 25th. Royal Bank Of Canada cut International Paper from an “outperform” rating to a “sector perform” rating and set a $46.00 price target for the company. in a report on Monday, April 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, May 2nd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $45.57.
Shares of International Paper (NYSE:IP) traded up 0.31% during trading on Thursday, hitting $45.73. The company had a trading volume of 3,215,816 shares. The stock has a 50-day moving average of $43.13 and a 200 day moving average of $40.13. International Paper has a 12-month low of $32.50 and a 12-month high of $48.23. The stock has a market capitalization of $18.80 billion and a price-to-earnings ratio of 19.94.
In other news, SVP Timothy S. Nicholls sold 13,000 shares of International Paper stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $42.70, for a total transaction of $555,100.00. Following the sale, the senior vice president now directly owns 212,511 shares of the company’s stock, valued at $9,074,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas G. Kadien sold 15,000 shares of International Paper stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $41.94, for a total value of $629,100.00. Following the sale, the senior vice president now directly owns 111,078 shares in the company, valued at $4,658,611.32. The disclosure for this sale can be found here.
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
