International Paper Co (IP) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.92 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.84. The company posted revenue of $5322.00 million in the period, compared to analysts expectations of $5313.96 million. The company’s revenue was down -6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.
Many Wall Street Analysts have commented on International Paper Co. International Paper Co was Downgraded by Jefferies to ” Hold” on May 3, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 44 from a previous price target of $38 .
International Paper Co opened for trading at $45.5 and hit $46.28 on the upside on Thursday, eventually ending the session at $45.73, with a gain of 0.31% or 0.14 points. The heightened volatility saw the trading volume jump to 32,15,816 shares. Company has a market cap of $18,803 M.
Investors should note that on Jul 12, 2016, International Paper Co announced a cash dividend of $0.4400. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Sep 15, 2016.
In a different news, on Jun 10, 2016, Glenn R Landau (SVP & Pres., IP Latin America) sold 10,000 shares at $43.28 per share price. According to the SEC, on Jun 6, 2016, Timothy S Nicholls (Senior Vice President) sold 13,000 shares at $42.71 per share price. On May 16, 2016, Thomas G Kadien (Senior Vice President) sold 15,000 shares at $41.94 per share price, according to the Form-4 filing with the securities and exchange commission.
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 operates in three segments: Industrial Packaging Printing Papers and Consumer Packaging. Industrial Packaging segments products include linerboard medium whitetop recycled linerboard recycled medium and saturating kraft. Printing Papers segment products include uncoated papers which engage in the business of producing papers for use in copiers desktop and laser printers and pulp which manufactures printing writing and specialty papers tissue products and filtration products. Consumer Packagings coated paperboard business produces coated paperboard for packaging and commercial printing end uses. Its foodservice business produces cups lids food containers and plates. Its brands include Hammermill Springhill Accent Ballet Rey Pol Everest Fortress and Carolina.