Analysts 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.
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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.
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