Intertape Polymer Group (ITP) Given “Outperform” Rating at National Bank Financial

National Bank Financial reaffirmed their outperform rating on shares of Intertape Polymer Group (TSE:ITP) in a research note issued to investors on Monday. The brokerage currently has a C$23.00 price target on the stock. National Bank Financial also issued estimates for Intertape Polymer Group’s Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.42 EPS, Q1 2019 earnings at $0.31 EPS, Q2 2019 earnings at $0.41 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.48 EPS, FY2019 earnings at $1.65 EPS and FY2020 earnings at $1.89 EPS.

Separately, Royal Bank of Canada increased their target price on Intertape Polymer Group from C$18.00 to C$20.00 and gave the stock a sector perform rating in a report on Wednesday, August 15th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of C$21.67.

ITP opened at C$17.63 on Monday. Intertape Polymer Group has a 52-week low of C$16.42 and a 52-week high of C$22.84. The company has a debt-to-equity ratio of 190.17, a quick ratio of 1.04 and a current ratio of 2.44.

Intertape Polymer Group (TSE:ITP) last released its earnings results on Thursday, November 8th. The company reported C$0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.29 by C$0.12. The company had revenue of C$364.71 million for the quarter, compared to analyst estimates of C$354.82 million. As a group, equities research analysts expect that Intertape Polymer Group will post 1.15999988767724 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, December 13th. Intertape Polymer Group’s dividend payout ratio (DPR) is currently 55.39%.

In related news, insider Douglas Nalette sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of C$18.03, for a total value of C$901,500.00.

Intertape Polymer Group Company Profile

Intertape Polymer Group Inc, together with its subsidiaries, operates in the packaging industry in Canada, the United States, and internationally. It develops, manufactures, and sells various paper and film based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics, and complementary packaging systems for industrial and retail use.

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