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 cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokerages have set a 12-month consensus price objective of $57.50 for the company and are forecasting that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 226 out of 256 based on the ratings given to related companies.
A number of equities analysts recently issued reports on TPB shares. Zacks Investment Research lowered Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Friday, March 15th. TheStreet raised Turning Point Brands from a “c-” rating to a “b-” rating in a report on Friday, May 10th. Finally, B. Riley raised their price target on Turning Point Brands from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.07. Turning Point Brands had a return on equity of 47.17% and a net margin of 8.22%. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $89.00 million. During the same quarter last year, the company posted $0.35 earnings per share. The business’s revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts predict that Turning Point Brands will post 1.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, June 20th. Turning Point Brands’s dividend payout ratio is presently 10.53%.
In other Turning Point Brands news, Director H.C. Charles Diao acquired 2,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $50.54 per share, with a total value of $101,080.00. Following the acquisition, the director now owns 12,000 shares of the company’s stock, valued at $606,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.50% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Turning Point Brands by 3.4% in the 4th quarter. BlackRock Inc. now owns 565,243 shares of the company’s stock valued at $15,386,000 after purchasing an additional 18,693 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in Turning Point Brands in the 1st quarter valued at approximately $301,000. Municipal Employees Retirement System of Michigan purchased a new stake in Turning Point Brands in the 4th quarter valued at approximately $487,000. Eaton Vance Management purchased a new stake in Turning Point Brands in the 4th quarter valued at approximately $400,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $561,000. 31.10% of the stock is currently owned by institutional investors.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products 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 loose leaf chewing tobacco products.
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