International Paper (NYSE:IP) Releases Earnings Results, Beats Estimates By $0.20 EPS

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

International Paper Stock Down 0.8 %

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

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is currently 151.64%.

Analysts Set New Price Targets

IP has been the topic of a number of research analyst reports. Truist Financial raised their price target on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. 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 report on Thursday, July 25th. Stifel Nicolaus started coverage on International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Finally, Argus raised 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.46.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now owns 41,002 shares in the company, valued at $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares of the company’s stock, valued at $1,890,192.20. 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 ninety days, insiders sold 18,840 shares of company stock valued at $906,386. Company insiders own 0.55% of the company’s stock.

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.