International Paper (NYSE:IP) Posts Quarterly Earnings Results

International Paper (NYSE:IP) issued its earnings results on Thursday. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06), Briefing.com reports. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue was down 8.0% on a year-over-year basis.

International Paper Stock Up 0.9 %

IP traded up $0.31 during trading hours on Friday, hitting $33.83. 6,735,103 shares of the company’s stock were exchanged, compared to its average volume of 6,058,422. The company has a quick ratio of 1.19, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The stock’s 50-day moving average is $36.64 and its two-hundred day moving average is $35.81. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 69.04 and a beta of 0.99.

Wall Street Analyst Weigh In

A number of research firms recently commented on IP. Truist Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Wells Fargo & Company lowered their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Finally, Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, International Paper currently has an average rating of “Hold” and an average target price 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 that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 8,800 shares of company stock valued at $310,438 in the last three months. 0.55% of the stock is currently 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.