International Paper (NYSE:IP) Shares Gap Down After Earnings Miss

International Paper (NYSE:IP)’s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $57.98, but opened at $55.21. International Paper shares last traded at $55.81, with a volume of 1,612,251 shares.

The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 6.49% and a net margin of 2.25%.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is currently 158.12%.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial lifted their target price on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.99.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its stake in International Paper by 4.7% in the 2nd quarter. Mackenzie Financial Corp now owns 31,775 shares of the basic materials company’s stock worth $1,371,000 after acquiring an additional 1,420 shares during the period. Creative Planning lifted its position in International Paper by 6.1% during the second quarter. Creative Planning now owns 68,425 shares of the basic materials company’s stock worth $2,953,000 after buying an additional 3,947 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in International Paper by 4.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,426 shares of the basic materials company’s stock worth $1,658,000 after buying an additional 1,490 shares during the last quarter. NewEdge Advisors LLC grew its holdings in International Paper by 1,011.5% in the 2nd quarter. NewEdge Advisors LLC now owns 31,190 shares of the basic materials company’s stock valued at $1,346,000 after buying an additional 28,384 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of International Paper during the 2nd quarter valued at about $1,104,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

The company’s fifty day moving average price is $56.17 and its two-hundred day moving average price is $51.51. The firm has a market capitalization of $19.52 billion, a PE ratio of 48.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

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.