Analysts Anticipate Turning Point Brands Inc (TPB) to Post $0.55 Earnings Per Share

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Shares of Turning Point Brands Inc (NYSE:TPB) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus price target of $40.00 for the company and are expecting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 218 out of 255 based on the ratings given to its competitors.

Several research firms recently commented on TPB. Cowen reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Friday, August 10th. B. Riley raised their price target on shares of Turning Point Brands from $30.00 to $34.00 and gave the stock a “$32.61” rating in a research note on Wednesday, July 18th.

In related news, Director Thomas F. Jr. Helms sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $31.82, for a total value of $636,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP James Michael Murray sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $40.50, for a total transaction of $40,500.00. Following the completion of the transaction, the vice president now directly owns 29,246 shares in the company, valued at approximately $1,184,463. The disclosure for this sale can be found here. Insiders sold a total of 61,547 shares of company stock worth $2,253,155 in the last ninety days. 6.90% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of TPB. BlackRock Inc. grew its holdings in Turning Point Brands by 53.2% during the 2nd quarter. BlackRock Inc. now owns 380,487 shares of the company’s stock worth $12,136,000 after acquiring an additional 132,151 shares in the last quarter. ETF Managers Group LLC grew its holdings in Turning Point Brands by 127.9% during the 1st quarter. ETF Managers Group LLC now owns 224,595 shares of the company’s stock worth $4,326,000 after acquiring an additional 126,030 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Turning Point Brands by 36.5% during the 2nd quarter. Renaissance Technologies LLC now owns 336,762 shares of the company’s stock worth $10,743,000 after acquiring an additional 90,062 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Turning Point Brands during the 2nd quarter worth about $2,633,000. Finally, Dimensional Fund Advisors LP grew its holdings in Turning Point Brands by 101.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 163,140 shares of the company’s stock worth $5,204,000 after acquiring an additional 82,182 shares in the last quarter. Institutional investors own 27.11% of the company’s stock.

TPB stock traded up $0.09 during trading on Friday, hitting $41.46. The company had a trading volume of 193,200 shares, compared to its average volume of 91,674. The company has a market capitalization of $776.03 million, a PE ratio of 38.31 and a beta of 0.77. Turning Point Brands has a 52-week low of $15.34 and a 52-week high of $44.13. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.03 and a quick ratio of 0.55.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $82.40 million. Turning Point Brands had a net margin of 7.70% and a return on equity of 51.44%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. sell-side analysts forecast that Turning Point Brands will post 1.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 21st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, September 20th. Turning Point Brands’s dividend payout ratio is presently 14.81%.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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