International Paper Co (NYSE:IP) Expected to Post Quarterly Sales of $5.73 Billion

Brokerages expect International Paper Co (NYSE:IP) to post sales of $5.73 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for International Paper’s earnings. The highest sales estimate is $6.05 billion and the lowest is $5.57 billion. International Paper posted sales of $5.90 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that International Paper will report full-year sales of $22.86 billion for the current financial year, with estimates ranging from $22.53 billion to $23.48 billion. For the next financial year, analysts expect that the company will report sales of $22.65 billion, with estimates ranging from $21.34 billion to $24.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for International Paper.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.14. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The firm had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. International Paper’s quarterly revenue was down 2.8% on a year-over-year basis.

IP has been the topic of several research reports. KeyCorp reissued a “sell” rating and set a $38.00 price target on shares of International Paper in a research report on Thursday, July 25th. Stephens cut shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target on the stock. in a research report on Monday, June 24th. Citigroup cut shares of International Paper from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $53.00 to $45.00 in a research report on Thursday, July 11th. Finally, UBS Group set a $50.00 price target on shares of International Paper and gave the stock a “buy” rating in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.82.

NYSE IP traded up $0.36 during trading hours on Wednesday, reaching $38.99. The company had a trading volume of 2,599,100 shares, compared to its average volume of 3,625,653. The stock has a 50-day moving average of $42.55 and a 200 day moving average of $44.65. International Paper has a 1-year low of $37.55 and a 1-year high of $54.95. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $15.18 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.49.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 14th. This represents a $2.00 annualized dividend and a dividend yield of 5.13%. International Paper’s dividend payout ratio is presently 37.59%.

In other news, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the sale, the senior vice president now owns 61,554 shares of the company’s stock, valued at $2,768,083.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Alpha LLC purchased a new position in shares of International Paper during the first quarter worth approximately $25,000. Bremer Bank National Association purchased a new position in shares of International Paper during the first quarter worth approximately $28,000. Truvestments Capital LLC purchased a new position in shares of International Paper during the first quarter worth approximately $30,000. Citizens Financial Group Inc RI grew its position in shares of International Paper by 138.4% during the second quarter. Citizens Financial Group Inc RI now owns 801 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 465 shares during the last quarter. Finally, First Interstate Bank purchased a new position in shares of International Paper during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.75% of the company’s stock.

International Paper Company Profile

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Earnings History and Estimates for International Paper (NYSE:IP)

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