Analysts Anticipate Turning Point Brands Inc (TPB) to Announce $0.30 EPS

Shares of Turning Point Brands Inc (NYSE:TPB) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price objective of $28.00 for the company and are forecasting that the company will post $0.30 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 186 out of 265 based on the ratings given to its competitors.

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TPB has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Turning Point Brands from a “strong sell” rating to a “hold” rating and set a $24.00 target price for the company in a research note on Thursday, January 11th. Cowen reissued a “buy” rating on shares of Turning Point Brands in a research note on Thursday.

In related news, insider James Wells Dobbins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the sale, the insider now directly owns 94,041 shares of the company’s stock, valued at $1,969,218.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder General L.P. Standard purchased 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were acquired at an average cost of $20.80 per share, with a total value of $3,120,000.00. Following the completion of the purchase, the insider now owns 2,500 shares of the company’s stock, valued at $52,000. The disclosure for this purchase can be found here. Insiders own 14.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TPB. Teachers Advisors LLC raised its stake in shares of Turning Point Brands by 25.6% during the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock worth $157,000 after buying an additional 2,087 shares during the last quarter. Vanguard Group Inc. increased its stake in Turning Point Brands by 1.1% in the second quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock valued at $3,914,000 after purchasing an additional 2,834 shares in the last quarter. State Street Corp increased its stake in Turning Point Brands by 5.8% in the second quarter. State Street Corp now owns 84,823 shares of the company’s stock valued at $1,301,000 after purchasing an additional 4,663 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Turning Point Brands by 11.1% in the third quarter. Bank of New York Mellon Corp now owns 42,473 shares of the company’s stock valued at $722,000 after purchasing an additional 4,256 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Turning Point Brands by 30.2% in the third quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock valued at $1,383,000 after purchasing an additional 18,866 shares in the last quarter. 19.83% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands (NYSE:TPB) opened at $21.55 on Friday. Turning Point Brands has a 12 month low of $14.00 and a 12 month high of $22.99. The firm has a market cap of $413.39, a PE ratio of 20.72 and a beta of 0.47. The company has a debt-to-equity ratio of 3.49, a current ratio of 2.08 and a quick ratio of 0.42.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, March 8th. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.10). Turning Point Brands had a return on equity of 55.65% and a net margin of 7.07%. The company had revenue of $73.56 million during the quarter, compared to the consensus estimate of $72.35 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The company’s revenue was up 36.7% on a year-over-year basis. sell-side analysts anticipate that Turning Point Brands will post 1.37 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Monday, March 26th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Friday, March 23rd. Turning Point Brands’s dividend payout ratio (DPR) is 3.85%.

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About Turning Point Brands

Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.

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