Zacks: Brokerages Anticipate International Paper Company (NYSE:IP) Will Post Earnings of $1.13 Per Share
Equities analysts expect that International Paper Company (NYSE:IP) will post earnings of $1.13 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for International Paper’s earnings, with estimates ranging from $1.07 to $1.28. International Paper reported earnings of $0.91 per share in the same quarter last year, which would suggest a positive year over year growth rate of 24.2%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that International Paper will report full year earnings of $3.49 per share for the current year, with EPS estimates ranging from $3.34 to $3.70. For the next fiscal year, analysts forecast that the company will report earnings of $4.40 per share, with EPS estimates ranging from $3.57 to $4.80. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow International Paper.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share.
Several brokerages recently commented on IP. KeyCorp reissued a “hold” rating on shares of International Paper in a research report on Thursday, July 27th. Vertical Research reaffirmed a “buy” rating on shares of International Paper in a report on Friday, July 28th. Barclays PLC reaffirmed a “sell” rating and set a $50.00 price target on shares of International Paper in a report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of International Paper in a report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $60.00 to $64.00 in a report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.89.
Shares of International Paper (NYSE:IP) traded down 0.57% during mid-day trading on Thursday, reaching $53.99. 1,569,325 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $56.47 and its 200-day moving average price is $53.68. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 27.42 and a beta of 1.46. International Paper has a 12-month low of $43.55 and a 12-month high of $58.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 93.91%.
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In other news, insider Gregory T. Wanta sold 1,044 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.64% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of International Paper by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock valued at $326,000 after buying an additional 20 shares during the period. Vaughan David Investments Inc. IL boosted its position in shares of International Paper by 0.5% in the first quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock valued at $216,000 after buying an additional 21 shares during the period. Mechanics Bank Trust Department boosted its position in shares of International Paper by 0.6% in the second quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock valued at $253,000 after buying an additional 26 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of International Paper by 0.8% in the first quarter. Checchi Capital Advisers LLC now owns 4,670 shares of the basic materials company’s stock valued at $237,000 after buying an additional 37 shares during the period. Finally, Moloney Securities Asset Management LLC boosted its position in shares of International Paper by 0.9% in the second quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock valued at $282,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.
About International Paper
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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