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

Turning Point Brands, Inc. (NYSE:TPB) – Investment analysts at Roth Capital issued their Q3 2024 EPS estimates for shares of Turning Point Brands in a report issued on Thursday, September 19th. Roth Capital analyst S. Fortune anticipates that the company will earn $0.67 per share for the quarter. Roth Capital currently 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.

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

Other equities analysts have also issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Roth Mkm started coverage on shares of Turning Point Brands in a research note on Thursday. They issued a “buy” rating and a $50.00 target price on the stock.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $41.93 on Monday. The stock has a market capitalization of $738.89 million, a P/E ratio of 18.47 and a beta of 0.62. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The business’s fifty day moving average price is $38.43 and its 200 day moving average price is $33.49. Turning Point Brands has a twelve month low of $19.67 and a twelve month high of $42.32.

Institutional Trading of Turning Point Brands

Several hedge funds have recently made changes to their positions in the stock. Aristides Capital LLC boosted its holdings in shares of Turning Point Brands by 6.3% during the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after acquiring an additional 12,041 shares during the period. Algert Global LLC lifted its position in Turning Point Brands by 3.9% in the 2nd quarter. Algert Global LLC now owns 115,970 shares of the company’s stock valued at $3,721,000 after purchasing an additional 4,388 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands during the 2nd quarter valued at about $209,000. Millennium Management LLC boosted its stake in Turning Point Brands by 14.1% during the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after purchasing an additional 22,035 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Turning Point Brands by 32.5% in the second quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock valued at $1,311,000 after purchasing an additional 10,033 shares during the period. Institutional investors own 96.12% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Turning Point Brands Dividend Announcement

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

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.