International Paper (NYSE:IP) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

International Paper (NYSE:IP) posted its quarterly earnings data on Wednesday. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14, Briefing.com reports. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share.

International Paper Stock Up 0.9 %

Shares of International Paper stock traded up $0.41 during trading hours on Friday, reaching $46.63. The company’s stock had a trading volume of 2,602,240 shares, compared to its average volume of 5,826,946. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.22 and a current ratio of 1.59. International Paper has a one year low of $31.76 and a one year high of $47.40. The company has a market capitalization of $16.20 billion, a P/E ratio of 94.37 and a beta of 1.06. The stock’s fifty day simple moving average is $44.60 and its two-hundred day simple moving average is $39.40.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, August 15th. International Paper’s dividend payout ratio is currently 377.55%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IP. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Truist Financial boosted their price objective on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.96.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $44.58, for a total transaction of $26,748.00. Following the transaction, the director now owns 45,479 shares of the company’s stock, valued at $2,027,453.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 3,600 shares of company stock valued at $150,594. 0.55% of the stock is 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.