International Paper (NYSE:IP) Announces Earnings Results, Misses Estimates By $0.06 EPS

International Paper (NYSE:IP) posted its quarterly earnings data on Thursday. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06), Briefing.com reports. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis.

International Paper Stock Performance

Shares of NYSE IP traded up $0.27 during midday trading on Friday, hitting $33.79. The company’s stock had a trading volume of 3,681,310 shares, compared to its average volume of 4,956,795. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The firm has a market cap of $11.74 billion, a P/E ratio of 40.82 and a beta of 0.99. The firm’s fifty day moving average price is $36.68 and its 200-day moving average price is $35.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67.

Analyst Upgrades and Downgrades

IP has been the topic of several recent analyst reports. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Truist Financial restated a “buy” rating and set a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.13.

Insiders Place Their Bets

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is owned by corporate insiders.

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.