Shares of Turning Point Brands Inc (NYSE:TPB) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus price target of $55.00 for the company and are expecting that the company will post $0.36 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 95 out of 255 based on the ratings given to its competitors.
Several research analysts have commented on the company. Zacks Investment Research downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. B. Riley boosted their price target on Turning Point Brands from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th.
Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). Turning Point Brands had a net margin of 7.60% and a return on equity of 51.39%. The firm had revenue of $94.29 million for the quarter, compared to analyst estimates of $91.70 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. Equities analysts expect that Turning Point Brands will post 1.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.045 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.18 annualized dividend and a dividend yield of 0.42%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.53%.
Institutional investors have recently made changes to their positions in the business. Resources Investment Advisors Inc. acquired a new position in shares of Turning Point Brands during the fourth quarter worth about $27,000. Great West Life Assurance Co. Can lifted its position in shares of Turning Point Brands by 960.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,993 shares of the company’s stock valued at $52,000 after buying an additional 1,805 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Turning Point Brands by 356.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,825 shares of the company’s stock valued at $77,000 after buying an additional 2,206 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at approximately $209,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at approximately $257,000. Institutional investors own 34.49% 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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