Intertape Polymer Group to Post FY2019 Earnings of $1.33 Per Share, Cormark Forecasts (TSE:ITP)

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Intertape Polymer Group (TSE:ITP) – Stock analysts at Cormark raised their FY2019 earnings per share (EPS) estimates for Intertape Polymer Group in a research report issued to clients and investors on Tuesday, November 12th. Cormark analyst M. Macdougall now expects that the company will post earnings per share of $1.33 for the year, up from their previous forecast of $1.18. Cormark also issued estimates for Intertape Polymer Group’s FY2020 earnings at $1.41 EPS.

Separately, National Bank Financial dropped their price objective on Intertape Polymer Group from C$22.50 to C$21.00 and set an “outperform” rating for the company in a research note on Tuesday.

TSE ITP opened at C$16.42 on Wednesday. Intertape Polymer Group has a 1-year low of C$14.60 and a 1-year high of C$19.97. The company has a market capitalization of $1.01 billion and a P/E ratio of 26.06. The business has a 50 day moving average price of C$16.87 and a 200 day moving average price of C$17.99. The company has a debt-to-equity ratio of 220.25, a current ratio of 2.52 and a quick ratio of 1.05.

In other news, Director James Pantelidis acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average cost of C$17.40 per share, with a total value of C$87,000.00. Following the purchase, the director now directly owns 31,500 shares of the company’s stock, valued at approximately C$548,100. Insiders purchased a total of 6,567 shares of company stock valued at $112,623 over the last ninety days.

About Intertape Polymer Group

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, protective packaging and engineered coated products, and complementary packaging systems for industrial and retail use.

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