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

Turning Point Brands, Inc. (NYSE:TPB) – Research analysts at Roth Capital issued their Q3 2024 earnings estimates for shares of Turning Point Brands in a note issued to investors 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 issued its quarterly earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The firm had revenue of $108.51 million during the quarter.

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

Turning Point Brands Trading Up 0.5 %

Shares of TPB stock opened at $41.93 on Monday. The stock has a 50-day simple moving average of $38.43 and a 200 day simple moving average of $33.49. The stock has a market capitalization of $738.89 million, a P/E ratio of 18.47 and a beta of 0.62. Turning Point Brands has a fifty-two week low of $19.67 and a fifty-two week high of $42.32. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43.

Turning Point Brands Announces Dividend

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

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were 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 approximately $1,834,764.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of TPB. Marshall Wace LLP raised its holdings in shares of Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after acquiring an additional 367 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Turning Point Brands by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after buying an additional 693 shares during the last quarter. Access Investment Management LLC grew its stake in shares of Turning Point Brands by 0.6% in the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock valued at $3,895,000 after buying an additional 745 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Turning Point Brands by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock valued at $371,000 after buying an additional 800 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Turning Point Brands by 6.8% in the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after buying an additional 1,159 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.