Turning Point Brands Inc (NYSE:TPB) – Equities researchers at B. Riley upped their Q3 2018 earnings per share estimates for shares of Turning Point Brands in a research note issued to investors on Thursday, August 9th. B. Riley analyst S. Anderson now expects that the company will post earnings of $0.63 per share for the quarter, up from their previous estimate of $0.62. B. Riley has a “$32.61” rating and a $34.00 price objective on the stock. B. Riley also issued estimates for Turning Point Brands’ Q4 2018 earnings at $0.49 EPS, FY2018 earnings at $1.96 EPS and FY2019 earnings at $1.99 EPS.
A number of other equities analysts have also recently issued reports on TPB. Cowen restated a “buy” rating on shares of Turning Point Brands in a research report on Friday. Zacks Investment Research upgraded shares of Turning Point Brands from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd.
Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, August 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $82.40 million. Turning Point Brands had a net margin of 7.70% and a return on equity of 51.44%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share.
Several large investors have recently bought and sold shares of the company. Globeflex Capital L P acquired a new position in shares of Turning Point Brands in the second quarter valued at approximately $821,000. Dimensional Fund Advisors LP raised its position in shares of Turning Point Brands by 101.5% in the second quarter. Dimensional Fund Advisors LP now owns 163,140 shares of the company’s stock valued at $5,204,000 after buying an additional 82,182 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Turning Point Brands in the second quarter valued at approximately $501,000. BlackRock Inc. raised its position in shares of Turning Point Brands by 53.2% in the second quarter. BlackRock Inc. now owns 380,487 shares of the company’s stock valued at $12,136,000 after buying an additional 132,151 shares during the last quarter. Finally, Cadence Capital Management LLC acquired a new position in shares of Turning Point Brands in the second quarter valued at approximately $2,157,000. 20.22% of the stock is owned by institutional investors and hedge funds.
In other Turning Point Brands news, insider James Wells Dobbins sold 5,000 shares of Turning Point Brands stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the insider now owns 89,041 shares in the company, valued at $2,226,025. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder General L.P. Standard bought 50,000 shares of the business’s stock in a transaction on Friday, June 8th. The shares were acquired at an average price of $28.16 per share, with a total value of $1,408,000.00. The disclosure for this purchase can be found here. Insiders own 6.90% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 21st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Thursday, September 20th. Turning Point Brands’s payout ratio is currently 14.81%.
About Turning Point Brands
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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