Intertape Polymer Group Forecasted to Post FY2017 Earnings of $1.17 Per Share (TSE:ITP)
Intertape Polymer Group (TSE:ITP) – Analysts at Cormark dropped their FY2017 EPS estimates for Intertape Polymer Group in a report released on Monday. Cormark analyst G. Fairweather now forecasts that the company will post earnings of $1.17 per share for the year, down from their previous estimate of $1.35.
Several other research analysts have also recently weighed in on ITP. Scotiabank reissued a “focus stock” rating and issued a C$28.50 price target on shares of Intertape Polymer Group in a report on Thursday, May 4th. TD Securities increased their price target on shares of Intertape Polymer Group from C$27.00 to C$28.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Royal Bank Of Canada increased their price target on shares of Intertape Polymer Group from C$28.00 to C$29.00 and gave the company an “outperform” rating in a report on Tuesday, June 13th.
Intertape Polymer Group (ITP) opened at 20.89 on Tuesday. The company’s 50-day moving average price is $24.25 and its 200 day moving average price is $23.63. Intertape Polymer Group has a 52 week low of $19.76 and a 52 week high of $25.74. The company has a market capitalization of $1.24 billion and a price-to-earnings ratio of 22.96.
In other news, Director Gregory Yull sold 105,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of C$24.61, for a total transaction of C$2,584,050.00. Also, Director Melbourne F. Yull sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of C$24.54, for a total transaction of C$1,227,000.00. Over the last three months, insiders sold 170,725 shares of company stock worth $4,192,890.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.14 dividend. This is a boost from Intertape Polymer Group’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 2.68%. The ex-dividend date is Thursday, September 14th.
About Intertape Polymer Group
Intertape Polymer Group Inc, together with its subsidiaries, operates in the specialty 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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