Turning Point Brands Inc (NYSE:TPB) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus target price of $55.00 for the company and are forecasting that the company will post $0.36 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 99 out of 255 based on the ratings given to its competitors.
A number of brokerages have recently commented on TPB. Zacks Investment Research lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. B. Riley upped their price objective on shares of Turning Point Brands from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 13th.
Shares of NYSE:TPB traded up $0.12 during trading on Wednesday, hitting $44.83. 4,111 shares of the company’s stock were exchanged, compared to its average volume of 151,334. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.75 and a quick ratio of 0.32. Turning Point Brands has a 1-year low of $19.11 and a 1-year high of $50.07. The stock has a market cap of $874.53 million, a price-to-earnings ratio of 26.16 and a beta of 1.27.
Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). The company had revenue of $94.29 million during the quarter, compared to the consensus estimate of $91.70 million. Turning Point Brands had a net margin of 7.60% and a return on equity of 51.39%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. Equities research analysts anticipate that Turning Point Brands will post 1.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be paid a $0.045 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $0.18 annualized dividend and a dividend yield of 0.40%. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.53%.
Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Turning Point Brands by 22.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 309,302 shares of the company’s stock worth $8,420,000 after acquiring an additional 56,845 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Turning Point Brands by 68.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,087,653 shares of the company’s stock worth $29,606,000 after acquiring an additional 443,344 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Turning Point Brands in the fourth quarter worth about $487,000. Metropolitan Life Insurance Co. NY raised its holdings in Turning Point Brands by 356.4% in the 4th 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. Finally, D. E. Shaw & Co. Inc. bought a new position in Turning Point Brands in the 4th quarter valued at approximately $373,000. Institutional investors and hedge funds 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 primarily in the United States. It operates through 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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