$5.58 Billion in Sales Expected for International Paper (NYSE:IP) This Quarter

Equities research analysts expect that International Paper (NYSE:IP) will post $5.58 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for International Paper’s earnings, with the highest sales estimate coming in at $5.63 billion and the lowest estimate coming in at $5.54 billion. International Paper posted sales of $4.87 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.6%. The company is expected to announce its next earnings results on Thursday, July 29th.

According to Zacks, analysts expect that International Paper will report full year sales of $22.40 billion for the current financial year, with estimates ranging from $21.84 billion to $22.80 billion. For the next year, analysts expect that the business will report sales of $23.08 billion, with estimates ranging from $22.30 billion to $24.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for International Paper.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 29th. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.17. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.34 billion. International Paper had a return on equity of 15.84% and a net margin of 4.72%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS.

A number of brokerages recently issued reports on IP. Wells Fargo & Company increased their price objective on International Paper from $66.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, June 7th. Zacks Investment Research raised International Paper from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, May 11th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, June 11th. Jefferies Financial Group upped their target price on International Paper from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, June 4th. Finally, Morgan Stanley upped their target price on International Paper from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday, May 6th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. International Paper currently has an average rating of “Buy” and an average target price of $62.36.

In other news, SVP John V. Sims sold 8,909 shares of the stock in a transaction dated Thursday, May 20th. The stock was sold at an average price of $62.87, for a total transaction of $560,108.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of IP. Piscataqua Savings Bank purchased a new stake in International Paper during the 1st quarter valued at about $27,000. Vantage Consulting Group Inc purchased a new stake in International Paper during the 4th quarter valued at about $30,000. Mascoma Wealth Management LLC purchased a new stake in International Paper during the 1st quarter valued at about $32,000. Wealthcare Capital Management LLC purchased a new stake in International Paper during the 1st quarter valued at about $34,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in International Paper in the 1st quarter worth approximately $35,000. Institutional investors own 80.14% of the company’s stock.

IP traded down $0.01 during trading on Friday, reaching $60.78. 1,558,765 shares of the company were exchanged, compared to its average volume of 2,951,375. The company has a 50-day simple moving average of $61.21. The stock has a market cap of $23.81 billion, a P/E ratio of 24.75 and a beta of 1.06. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 1.45. International Paper has a 12-month low of $32.59 and a 12-month high of $65.27.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Thursday, May 27th were given a dividend of $0.5125 per share. The ex-dividend date was Wednesday, May 26th. This represents a $2.05 annualized dividend and a dividend yield of 3.37%. International Paper’s dividend payout ratio (DPR) is presently 73.21%.

About International Paper

International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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