Turning Point Brands, Inc. to Post Q3 2024 Earnings of $0.67 Per Share, Roth Capital Forecasts (NYSE:TPB)

Turning Point Brands, Inc. (NYSE:TPB) – Roth Capital issued their Q3 2024 earnings per share (EPS) estimates for shares of Turning Point Brands in a report released on Thursday, September 19th. Roth Capital analyst S. Fortune anticipates that the company will post earnings per share of $0.67 for the quarter. Roth Capital has a “Strong-Buy” rating on the stock. Roth Capital also issued estimates for Turning Point Brands’ Q4 2024 earnings at $0.69 EPS, FY2024 earnings at $2.68 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.76 EPS, Q3 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.80 EPS, FY2025 earnings at $3.08 EPS and FY2026 earnings at $3.63 EPS.

Several other equities research analysts have also issued reports on TPB. Benchmark reissued a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective on the stock.

Turning Point Brands Stock Up 0.4 %

TPB opened at $42.09 on Monday. The firm has a market capitalization of $741.71 million, a P/E ratio of 18.54 and a beta of 0.62. Turning Point Brands has a one year low of $19.67 and a one year high of $42.63. The company has a fifty day moving average price of $38.55 and a 200-day moving average price of $33.59. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The company had revenue of $108.51 million during the quarter.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.67%. Turning Point Brands’s payout ratio is currently 12.33%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TPB. Lazard Asset Management LLC bought a new stake in shares of Turning Point Brands during the 1st quarter valued at about $48,000. Allspring Global Investments Holdings LLC bought a new position in Turning Point Brands in the first quarter worth about $64,000. Quest Partners LLC purchased a new stake in Turning Point Brands in the fourth quarter worth about $65,000. SG Americas Securities LLC bought a new stake in Turning Point Brands during the 2nd quarter valued at approximately $129,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Turning Point Brands during the 2nd quarter valued at approximately $209,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.