What is Seaport Res Ptn’s Forecast for IP FY2024 Earnings?

International Paper (NYSE:IP) – Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for International Paper in a report released on Monday, November 11th. Seaport Res Ptn analyst M. Weintraub now forecasts that the basic materials company will earn $1.62 per share for the year, up from their previous forecast of $1.40. The consensus estimate for International Paper’s current full-year earnings is $1.24 per share. Seaport Res Ptn also issued estimates for International Paper’s Q4 2024 earnings at $0.46 EPS and Q1 2025 earnings at $0.38 EPS.

A number of other research firms have also recently weighed in on IP. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.54.

International Paper Trading Down 1.6 %

Shares of IP stock opened at $56.38 on Thursday. International Paper has a 1-year low of $31.76 and a 1-year high of $59.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The business’s fifty day moving average price is $49.96 and its 200 day moving average price is $46.27. The firm has a market capitalization of $19.59 billion, a PE ratio of 48.19 and a beta of 1.02.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares in the company, valued at $2,051,457.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,840 shares of company stock worth $910,826. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in shares of International Paper by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 177 shares during the period. Empirical Finance LLC increased its position in International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 224 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after buying an additional 239 shares during the period. Retirement Systems of Alabama lifted its position in International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after buying an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc grew its stake in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.