Equities Analysts Issue Forecasts for TPB FY2024 Earnings

Turning Point Brands, Inc. (NYSE:TPB) – Investment analysts at Roth Capital cut their FY2024 earnings per share estimates for shares of Turning Point Brands in a research note issued on Tuesday, February 25th. Roth Capital analyst N. Anderson now expects that the company will earn $2.56 per share for the year, down from their prior estimate of $2.62. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Turning Point Brands’ current full-year earnings is $2.59 per share. Roth Capital also issued estimates for Turning Point Brands’ Q4 2024 earnings at $0.57 EPS, Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.76 EPS, Q3 2025 earnings at $0.82 EPS, Q4 2025 earnings at $0.87 EPS and FY2025 earnings at $3.17 EPS.

Several other analysts also recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Oppenheimer assumed coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Benchmark increased their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Craig Hallum boosted their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Trading Up 0.1 %

Shares of TPB stock opened at $68.99 on Wednesday. Turning Point Brands has a fifty-two week low of $23.95 and a fifty-two week high of $70.99. The stock’s fifty day moving average price is $61.83 and its two-hundred day moving average price is $52.65. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The company has a market cap of $1.22 billion, a PE ratio of 27.38 and a beta of 0.65.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors have recently added to or reduced their stakes in the business. Virtus Fund Advisers LLC bought a new position in shares of Turning Point Brands during the fourth quarter valued at $48,000. USA Financial Formulas acquired a new stake in Turning Point Brands in the fourth quarter valued at $73,000. Sunbelt Securities Inc. bought a new position in Turning Point Brands during the 4th quarter worth $96,000. Tower Research Capital LLC TRC lifted its holdings in Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after buying an additional 532 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in shares of Turning Point Brands in the 4th quarter valued at about $201,000. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio (DPR) is 11.11%.

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.