$1.10 EPS Expected for International Paper Company (IP) This Quarter
Brokerages expect International Paper Company (NYSE:IP) to announce earnings per share (EPS) of $1.10 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for International Paper’s earnings. The lowest EPS estimate is $1.07 and the highest is $1.15. International Paper posted earnings of $0.91 per share in the same quarter last year, which suggests a positive year over year growth rate of 20.9%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that International Paper will report full-year earnings of $3.43 per share for the current year, with EPS estimates ranging from $3.34 to $3.53. For the next fiscal year, analysts forecast that the firm will post earnings of $4.34 per share, with EPS estimates ranging from $3.57 to $4.80. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover International Paper.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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%. International Paper’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share.
Several research firms have recently commented on IP. KeyCorp reiterated a “hold” rating on shares of International Paper in a research note on Thursday, June 29th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price objective (up from $65.00) on shares of International Paper in a research note on Friday, July 14th. Zacks Investment Research downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Finally, DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.75 to $62.00 in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $60.07.
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In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in IP. BlackRock Inc. increased its stake in shares of International Paper by 3,397.1% during the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock worth $1,888,138,000 after purchasing an additional 36,119,474 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of International Paper by 29.5% during the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after purchasing an additional 8,273,552 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of International Paper by 62.9% during the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock worth $324,455,000 after purchasing an additional 2,466,074 shares in the last quarter. Iridian Asset Management LLC CT increased its stake in shares of International Paper by 149.4% during the first quarter. Iridian Asset Management LLC CT now owns 3,745,820 shares of the basic materials company’s stock worth $190,213,000 after purchasing an additional 2,243,965 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of International Paper by 64.2% during the first quarter. Ameriprise Financial Inc. now owns 5,369,840 shares of the basic materials company’s stock worth $271,771,000 after purchasing an additional 2,098,824 shares in the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.
International Paper (NYSE:IP) traded up 0.16% during trading on Friday, reaching $54.78. 1,449,721 shares of the company’s stock traded hands. International Paper has a 12-month low of $43.55 and a 12-month high of $58.95. The company has a market cap of $22.62 billion, a PE ratio of 27.82 and a beta of 1.46. The company has a 50 day moving average price of $54.44 and a 200-day moving average price of $53.65.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.38%. International Paper’s dividend payout ratio (DPR) is currently 93.91%.
International Paper Company Profile
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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