Turning Point Brands (NYSE:TPB) Releases Earnings Results, Beats Expectations By $0.46 EPS

Turning Point Brands (NYSE:TPB) posted its earnings results on Wednesday. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $0.81 by $0.46, Briefing.com reports. The firm had revenue of $118.98 million for the quarter, compared to analysts’ expectations of $111.42 million. Turning Point Brands had a return on equity of 28.94% and a net margin of 12.02%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS.

Turning Point Brands Trading Up 2.5%

NYSE TPB traded up $2.52 during trading hours on Friday, hitting $102.71. The company’s stock had a trading volume of 556,893 shares, compared to its average volume of 302,134. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. Turning Point Brands has a twelve month low of $49.12 and a twelve month high of $110.55. The stock has a fifty day moving average of $95.00 and a 200 day moving average of $83.62. The firm has a market capitalization of $1.85 billion, a P/E ratio of 36.17 and a beta of 0.85.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, December 19th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Oppenheimer set a $110.00 target price on shares of Turning Point Brands and gave the stock an “outperform” rating in a report on Wednesday. Zacks Research cut Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Alliance Global Partners boosted their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC started coverage on Turning Point Brands in a research note on Friday, August 1st. They issued a “hold” rating on the stock. Finally, Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Institutional Trading of Turning Point Brands

A number of hedge funds have recently modified their holdings of TPB. Canada Pension Plan Investment Board bought a new stake in shares of Turning Point Brands in the 2nd quarter valued at $129,000. Lazard Asset Management LLC increased its holdings in shares of Turning Point Brands by 33.5% in the second quarter. Lazard Asset Management LLC now owns 1,842 shares of the company’s stock worth $139,000 after acquiring an additional 462 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Turning Point Brands by 59.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,049 shares of the company’s stock worth $155,000 after buying an additional 761 shares during the period. Osaic Holdings Inc. boosted its stake in Turning Point Brands by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 2,264 shares of the company’s stock worth $172,000 after purchasing an additional 443 shares during the period. Finally, Baird Financial Group Inc. acquired a new position in shares of Turning Point Brands during the second quarter worth about $220,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.