International Paper (NYSE:IP) Expected to Post Quarterly Sales of $5.29 Billion


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Wall Street analysts expect International Paper (NYSE:IP) to announce $5.29 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for International Paper’s earnings, with estimates ranging from $5.13 billion to $5.39 billion. International Paper reported sales of $5.35 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The firm is expected to report its next quarterly earnings report on Thursday, April 29th.

According to Zacks, analysts expect that International Paper will report full year sales of $21.68 billion for the current financial year, with estimates ranging from $20.99 billion to $22.88 billion. For the next financial year, analysts anticipate that the firm will post sales of $21.85 billion, with estimates ranging from $20.97 billion to $22.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for International Paper.

International Paper (NYSE:IP) last posted its earnings results on Thursday, February 4th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). International Paper had a net margin of 2.37% and a return on equity of 17.27%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue was down 4.7% on a year-over-year basis.

Several equities analysts have recently issued reports on IP shares. Morgan Stanley boosted their price target on shares of International Paper from $44.00 to $48.00 and gave the company an “underweight” rating in a report on Thursday, April 1st. Seaport Global Securities raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Friday, February 5th. Wells Fargo & Company upped their target price on shares of International Paper from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, January 11th. KeyCorp upped their target price on shares of International Paper from $41.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, UBS Group started coverage on shares of International Paper in a research note on Tuesday, January 12th. They issued a “sell” rating and a $40.00 target price for the company. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.00.

IP opened at $54.94 on Thursday. The company has a fifty day moving average price of $52.74 and a two-hundred day moving average price of $48.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.09 and a current ratio of 1.33. International Paper has a 52 week low of $29.76 and a 52 week high of $56.98. The firm has a market capitalization of $21.58 billion, a PE ratio of 43.95 and a beta of 1.10.

The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Thursday, February 18th were paid a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Wednesday, February 17th. International Paper’s dividend payout ratio is presently 46.28%.

In related news, SVP Gregory T. Wanta sold 7,500 shares of International Paper stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $54.58, for a total transaction of $409,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP W. Michael Jr. Amick sold 18,222 shares of International Paper stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $48.03, for a total transaction of $875,202.66. 0.37% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of IP. Norges Bank acquired a new stake in International Paper in the fourth quarter worth $206,099,000. Price T Rowe Associates Inc. MD grew its holdings in International Paper by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,043,391 shares of the basic materials company’s stock worth $1,990,957,000 after purchasing an additional 3,200,173 shares during the period. State of Tennessee Treasury Department grew its holdings in International Paper by 1,725.9% in the fourth quarter. State of Tennessee Treasury Department now owns 1,449,333 shares of the basic materials company’s stock worth $72,061,000 after purchasing an additional 1,369,957 shares during the period. BlackRock Inc. grew its holdings in International Paper by 1.9% in the fourth quarter. BlackRock Inc. now owns 36,804,762 shares of the basic materials company’s stock worth $1,829,931,000 after purchasing an additional 670,033 shares during the period. Finally, Bowen Hanes & Co. Inc. grew its holdings in International Paper by 867.4% in the fourth quarter. Bowen Hanes & Co. Inc. now owns 654,660 shares of the basic materials company’s stock worth $32,550,000 after purchasing an additional 586,985 shares during the period. Institutional investors and hedge funds own 81.57% of the company’s stock.

About International Paper

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

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