Brokerages Expect Turning Point Brands Inc (NYSE:TPB) to Post $0.55 EPS

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

Brokers have set a 12 month consensus target price of $57.67 for the company and are predicting 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 81 out of 256 based on the ratings given to related companies.

TPB has been the subject of a number of recent analyst reports. Zacks Investment Research raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Tuesday, July 30th. ValuEngine downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, TheStreet upgraded Turning Point Brands from a “c-” rating to a “b-” rating in a research note on Friday, May 10th.

NYSE:TPB traded down $0.10 during mid-day trading on Friday, reaching $39.81. The company’s stock had a trading volume of 5,368 shares, compared to its average volume of 362,914. Turning Point Brands has a 12-month low of $26.39 and a 12-month high of $57.06. The firm’s fifty day simple moving average is $47.90. The company has a current ratio of 1.78, a quick ratio of 0.39 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $778.51 million, a PE ratio of 23.35 and a beta of 0.64.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, July 31st. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Turning Point Brands had a return on equity of 42.97% and a net margin of 9.02%. The business had revenue of $93.30 million during the quarter, compared to analyst estimates of $93.30 million. During the same quarter in the previous year, the firm earned $0.50 EPS. Turning Point Brands’s revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts anticipate that Turning Point Brands will post 1.98 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.45%. Turning Point Brands’s dividend payout ratio is currently 10.53%.

In other news, Director H.C. Charles Diao purchased 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $37.70 per share, for a total transaction of $75,400.00. Following the purchase, the director now directly owns 14,000 shares in the company, valued at approximately $527,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert M. Lavan purchased 2,500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $37.03 per share, with a total value of $92,575.00. Following the completion of the purchase, the chief financial officer now owns 6,000 shares in the company, valued at $222,180. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 6,500 shares of company stock valued at $269,055. Corporate insiders own 5.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Turning Point Brands by 3.4% during 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 during the period. CAPROCK Group Inc. bought a new position in shares of Turning Point Brands during the 1st quarter valued at approximately $301,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Turning Point Brands during the 4th quarter valued at approximately $487,000. Deutsche Bank AG grew its stake in shares of Turning Point Brands by 168.2% during the 4th quarter. Deutsche Bank AG now owns 120,662 shares of the company’s stock valued at $3,283,000 after acquiring an additional 75,675 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Turning Point Brands by 22.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 309,302 shares of the company’s stock valued at $8,420,000 after acquiring an additional 56,845 shares during the period. Institutional investors and hedge funds own 30.98% of the company’s stock.

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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