International Paper (NYSE:IP) Posts Earnings Results, Misses Expectations By $0.06 EPS

International Paper (NYSE:IP) announced its earnings results on Thursday. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06), Briefing.com reports. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year.

International Paper Stock Performance

NYSE:IP traded up $0.31 during trading hours on Friday, reaching $33.83. The company had a trading volume of 6,735,103 shares, compared to its average volume of 6,058,422. The firm has a market cap of $11.75 billion, a PE ratio of 69.04 and a beta of 0.99. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The business’s 50 day moving average price is $36.64 and its 200-day moving average price is $35.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.19.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research note on Wednesday, April 17th. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Argus cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and upped their target price for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.13.

Insider Activity

In other 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 completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 8,800 shares of company stock worth $310,438 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

About International Paper

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.