Brokers Issue Forecasts for International Paper’s FY2023 Earnings (NYSE:IP)

International Paper (NYSE:IP – Get Rating) – Investment analysts at Seaport Res Ptn issued their FY2023 EPS estimates for International Paper in a report issued on Monday, August 1st. Seaport Res Ptn analyst M. Weintraub anticipates that the basic materials company will post earnings of $4.25 per share for the year. The consensus estimate for International Paper’s current full-year earnings is $4.59 per share.

International Paper (NYSE:IP – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.13. The business had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.35 billion. International Paper had a net margin of 8.60% and a return on equity of 17.25%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share.

IP has been the topic of several other research reports. Wells Fargo & Company cut shares of International Paper from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $58.00 to $47.00 in a report on Monday, July 18th. KeyCorp dropped their target price on shares of International Paper from $41.00 to $37.00 and set an “underweight” rating on the stock in a report on Friday, July 1st. Citigroup cut shares of International Paper from a “buy” rating to a “neutral” rating and dropped their target price for the company from $53.00 to $46.00 in a report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of International Paper from $48.00 to $44.00 in a report on Tuesday, July 19th. Finally, StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.80.

International Paper Stock Performance

NYSE:IP opened at $42.61 on Wednesday. The stock has a market cap of $15.79 billion, a P/E ratio of 8.86 and a beta of 0.91. The firm’s fifty day simple moving average is $43.70 and its 200 day simple moving average is $45.46. International Paper has a twelve month low of $40.21 and a twelve month high of $60.39. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 12th. This represents a $1.85 annualized dividend and a dividend yield of 4.34%. International Paper’s payout ratio is 38.46%.

Insider Activity at International Paper

In other International Paper news, SVP William Thomas Hamic sold 3,630 shares of International Paper stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $47.72, for a total value of $173,223.60. Following the completion of the sale, the senior vice president now owns 22,050 shares of the company’s stock, valued at approximately $1,052,226. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.42% of the stock is owned by insiders.

Institutional Investors Weigh In On International Paper

A number of large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of International Paper by 9.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 368,722 shares of the basic materials company’s stock valued at $15,424,000 after purchasing an additional 32,702 shares during the last quarter. Sterling Manor Financial LLC purchased a new stake in shares of International Paper during the 2nd quarter valued at about $282,000. Van ECK Associates Corp increased its position in shares of International Paper by 13.5% during the 2nd quarter. Van ECK Associates Corp now owns 11,752 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 1,402 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of International Paper by 3.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 151,640 shares of the basic materials company’s stock valued at $6,343,000 after purchasing an additional 4,507 shares during the last quarter. Finally, LGT Group Foundation purchased a new stake in International Paper in the 2nd quarter worth approximately $2,184,000. 82.69% of the stock is currently owned by institutional investors.

About International Paper

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

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