International Paper Co (NYSE:IP) Expected to Post Quarterly Sales of $5.13 Billion

AQR Capital Management LLC now owns 3,445,479 shares of the basic materials company’s stock worth $118,938,000 after acquiring an additional …

International Paper logoAnalysts expect International Paper Co (NYSE:IP) to post $5.13 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for International Paper’s earnings, with the highest sales estimate coming in at $5.32 billion and the lowest estimate coming in at $4.82 billion. International Paper reported sales of $5.57 billion in the same quarter last year, which would indicate a negative year over year growth rate of 7.9%. The business is expected to announce its next earnings results on Thursday, October 29th.

On average, analysts expect that International Paper will report full year sales of $20.54 billion for the current fiscal year, with estimates ranging from $19.87 billion to $21.38 billion. For the next year, analysts anticipate that the company will report sales of $20.55 billion, with estimates ranging from $19.63 billion to $21.62 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for International Paper.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.38. International Paper had a return on equity of 19.18% and a net margin of 2.98%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The business’s revenue was down 14.1% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank cut their price objective on shares of International Paper from $46.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, May 26th. Morgan Stanley initiated coverage on shares of International Paper in a report on Monday, June 15th. They issued an “underweight” rating and a $29.00 target price for the company. KeyCorp reaffirmed a “sell” rating and issued a $31.00 target price on shares of International Paper in a report on Thursday, July 30th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, August 21st. Finally, ValuEngine downgraded shares of International Paper from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.50.

(Ad)

The coronavirus knocked the wind out of stocks. But there are 5 Companies that could be HUGE in 2020 and 2021! Time to get your FREE Report on these 5 Companies that could DOMINATE! (Tickers Included)

A number of institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in International Paper by 44.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,143,579 shares of the basic materials company’s stock worth $181,106,000 after acquiring an additional 1,579,459 shares in the last quarter. Levin Easterly Partners LLC bought a new position in International Paper in the 1st quarter worth about $27,136,000. Nordea Investment Management AB grew its stake in International Paper by 103.1% in the 2nd quarter. Nordea Investment Management AB now owns 1,657,182 shares of the basic materials company’s stock worth $57,206,000 after acquiring an additional 841,136 shares in the last quarter. Prudential PLC grew its stake in International Paper by 33.8% in the 2nd quarter. Prudential PLC now owns 2,724,427 shares of the basic materials company’s stock worth $95,927,000 after acquiring an additional 688,057 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in International Paper by 21.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,445,479 shares of the basic materials company’s stock worth $118,938,000 after acquiring an additional 597,033 shares in the last quarter. 80.97% of the stock is currently owned by institutional investors.

Shares of IP stock opened at $39.03 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.55 and a current ratio of 0.79. International Paper has a 52 week low of $26.38 and a 52 week high of $47.64. The stock has a market capitalization of $15.07 billion, a PE ratio of 24.39 and a beta of 1.28. The stock’s fifty day moving average is $36.35 and its 200-day moving average is $34.78.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a dividend yield of 5.25%. The ex-dividend date is Thursday, August 13th. International Paper’s dividend payout ratio is 46.28%.

About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Further Reading: Understanding Market Liquidity

Get a free copy of the Zacks research report on International Paper (IP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for International Paper (NYSE:IP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

8 Artificial Intelligence Stocks That Will Make You Feel Like a Smart Investor

In 2018, it was cannabis. In 2019, it was 5G. And yet before either of those trends, artificial intelligence (or AI) was growing relentlessly and undeniably.

Artificial intelligence stems from the simple fact that computers are getting smarter. And they are being designed to process information faster. The words “machine learning” are being used to summarize the creation of algorithms, freed from human programmers, which train themselves on massive data sets. Earlier this year, two separate artificial intelligence “machines” demonstrated the ability to “read” Wikipedia entries and answer questions better than humans did.

But AI is more than a parlor trick. Chances are at some point today, you’ve experienced a benefit of artificial intelligence. You may have gotten to this page because of an internet search. You may have asked Alexa or your Google Assistant to perform a command. You may have voice-activated your Roomba vacuum. You may have used an AI-powered GPS system to get to wherever you’re reading this.

In the future, you may be hailing an autonomous car. A virtual assistant will be able to place calls for you to make appointments. But instead of sounding like a robot, the assistant will sound human, with an understanding of context and nuance.And those are just two applications. There will be more because the possibilities of artificial intelligence are expansive. But they can also be somewhat chilling. Many of the functions that are performed by humans today may be made obsolete by AI. But that’s a subject for another day.

Right now, you want to know how you can profit from this emerging trend.

You’ve come to the right place. In this special presentation, we will take a look at 8 stocks that can help you profit from the artificial intelligence trend.

View the “8 Artificial Intelligence Stocks That Will Make You Feel Like a Smart Investor”.