Turning Point Brands Inc (NYSE:TPB) – Investment analysts at B. Riley decreased their Q2 2019 earnings estimates for Turning Point Brands in a report issued on Thursday, May 2nd. B. Riley analyst S. Anderson now expects that the company will earn $0.51 per share for the quarter, down from their prior estimate of $0.56. B. Riley currently has a “Buy” rating and a $55.00 price target on the stock. B. Riley also issued estimates for Turning Point Brands’ Q4 2019 earnings at $0.57 EPS and FY2020 earnings at $2.38 EPS.
Separately, Zacks Investment Research downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, March 9th.
Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.07. Turning Point Brands had a return on equity of 51.39% and a net margin of 7.60%. The company had revenue of $91.60 million for the quarter, compared to the consensus estimate of $89.00 million. During the same period in the previous year, the business earned $0.35 EPS. Turning Point Brands’s revenue for the quarter was up 24.0% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of TPB. Martingale Asset Management L P increased its holdings in shares of Turning Point Brands by 2.5% in the 3rd quarter. Martingale Asset Management L P now owns 37,303 shares of the company’s stock valued at $1,547,000 after acquiring an additional 900 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Turning Point Brands by 3.4% in the 4th quarter. BlackRock Inc. now owns 565,243 shares of the company’s stock valued at $15,386,000 after acquiring an additional 18,693 shares during the last quarter. CAPROCK Group Inc. bought a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $301,000. Vanguard Group Inc increased its holdings in shares of Turning Point Brands by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 370,122 shares of the company’s stock valued at $15,345,000 after acquiring an additional 2,605 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $487,000. Institutional investors own 34.50% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $0.18 annualized dividend and a yield of 0.35%. Turning Point Brands’s dividend payout ratio is presently 10.53%.
About Turning Point Brands
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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