Analysts Expect Turning Point Brands, Inc. (TPB) to Post $0.33 Earnings Per Share
Shares of Turning Point Brands, Inc. (NYSE:TPB) have been given 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 recommendation.
Brokers have set a twelve-month consensus price objective of $20.00 for the company and are predicting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 206 out of 265 based on the ratings given to related companies.
A number of brokerages have commented on TPB. B. Riley reiterated a “buy” rating on shares of Turning Point Brands in a report on Wednesday, November 1st. Zacks Investment Research lowered Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. FBR & Co restated a “buy” rating and set a $17.00 price target on shares of Turning Point Brands in a research note on Monday, October 2nd. Finally, Cowen and Company restated a “buy” rating and set a $20.00 price target on shares of Turning Point Brands in a research note on Sunday, September 17th.
In other Turning Point Brands news, insider James Wells Dobbins sold 12,002 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $16.93, for a total value of $203,193.86. Following the sale, the insider now owns 96,043 shares in the company, valued at approximately $1,626,007.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder General L.P. Standard acquired 100,000 shares of the stock in a transaction on Thursday, September 14th. The stock was bought at an average price of $17.09 per share, for a total transaction of $1,709,000.00. The disclosure for this purchase can be found here. 14.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Northern Right Capital Management L.P. boosted its position in Turning Point Brands by 13.3% in the 2nd quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock worth $5,604,000 after purchasing an additional 42,800 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Turning Point Brands by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock worth $3,914,000 after buying an additional 2,834 shares during the period. Argent Capital Management LLC raised its stake in shares of Turning Point Brands by 8.7% during the 3rd quarter. Argent Capital Management LLC now owns 180,929 shares of the company’s stock worth $3,076,000 after buying an additional 14,555 shares during the period. State Street Corp raised its stake in shares of Turning Point Brands by 5.8% during the 2nd quarter. State Street Corp now owns 84,823 shares of the company’s stock worth $1,301,000 after buying an additional 4,663 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Turning Point Brands by 30.2% during the 3rd quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock worth $1,383,000 after buying an additional 18,866 shares during the period. Institutional investors and hedge funds own 15.49% of the company’s stock.
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Turning Point Brands (NYSE:TPB) traded up $0.29 during trading hours on Tuesday, hitting $17.02. The stock had a trading volume of 49,400 shares, compared to its average volume of 33,118. Turning Point Brands has a fifty-two week low of $11.67 and a fifty-two week high of $18.99. The company has a market capitalization of $321.38, a P/E ratio of 8.67 and a beta of 0.15. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.37 and a current ratio of 1.81.
Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, November 9th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.06). The business had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.15 million. Turning Point Brands had a return on equity of 93.53% and a net margin of 12.70%. The firm’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. analysts forecast that Turning Point Brands will post 1.15 EPS for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 27th will be given a $0.04 dividend. The ex-dividend date is Friday, November 24th.
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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