IT Tech Packaging (NASDAQ:TFII) to Issue $0.19 Dividend

IT Tech Packaging (NASDAQ:TFII) declared a dividend on Monday, June 15th, NASDAQ reports. Investors of record on Tuesday, June 30th will be paid a dividend of 0.189 per share on Wednesday, July 15th. The ex-dividend date is Monday, June 29th.

IT Tech Packaging has a dividend payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings.

Shares of IT Tech Packaging stock opened at $33.98 on Friday. The firm has a fifty day moving average price of $30.41. IT Tech Packaging has a twelve month low of $15.24 and a twelve month high of $36.65.

IT Tech Packaging (NASDAQ:TFII) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.13. The company had revenue of $924.95 million for the quarter, compared to analyst estimates of $879.19 million.

A number of research analysts have commented on the company. Credit Suisse Group assumed coverage on IT Tech Packaging in a research note on Monday, June 8th. They set an “outperform” rating and a $39.00 price objective on the stock. Bank of America assumed coverage on IT Tech Packaging in a research note on Monday, March 9th. They set a “buy” rating and a $35.00 price objective on the stock. UBS Group started coverage on IT Tech Packaging in a research note on Monday, March 9th. They set a “buy” rating on the stock. Cowen cut their price target on IT Tech Packaging from $46.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Royal Bank of Canada reduced their price target on IT Tech Packaging from $49.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.75.

About IT Tech Packaging

TFI International Inc, together with its subsidiaries, provides transportation and logistics services in the United States, Canada, and Mexico. The company operates through Package and Courier, Less-Than-Truckload, Truckload, and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items.

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