Turning Point Brands, Inc. (TPB) Set to Announce Quarterly Earnings on Wednesday
Turning Point Brands, Inc. (NYSE:TPB) is scheduled to be issuing its quarterly earnings data on Wednesday, November 8th. Analysts expect the company to announce earnings of $0.44 per share for the quarter.
Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Turning Point Brands had a return on equity of 114.77% and a net margin of 13.62%. The business had revenue of $72.10 million during the quarter, compared to analyst estimates of $67.35 million. During the same period in the prior year, the company earned $0.05 earnings per share. Turning Point Brands’s revenue was up 39.7% compared to the same quarter last year. On average, analysts expect Turning Point Brands to post $1.28 EPS for the current fiscal year and $1.53 EPS for the next fiscal year.
Turning Point Brands, Inc. (NYSE:TPB) opened at 17.50 on Wednesday. The firm’s 50-day moving average price is $17.62 and its 200 day moving average price is $16.36. The company has a market capitalization of $333.01 million, a price-to-earnings ratio of 10.99 and a beta of 0.19. Turning Point Brands, Inc. has a one year low of $11.67 and a one year high of $18.99.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. FBR & Co reiterated a “buy” rating and set a $17.00 target price on shares of Turning Point Brands in a research note on Monday, October 2nd. Finally, Cowen and Company reiterated a “buy” rating and set a $20.00 target price on shares of Turning Point Brands in a research note on Sunday, September 17th.
In other Turning Point Brands news, insider James Wells Dobbins sold 6,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.04, for a total transaction of $96,240.00. Following the completion of the sale, the insider now directly owns 90,041 shares in the company, valued at approximately $1,444,257.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP James Michael Murray sold 3,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.15, for a total transaction of $48,450.00. Following the sale, the vice president now owns 19,629 shares of the company’s stock, valued at $317,008.35. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 203,303 shares of company stock valued at $3,415,466 and have sold 21,002 shares valued at $347,884. 14.20% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Turning Point Brands stock. State Street Corp grew its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,823 shares of the company’s stock after acquiring an additional 4,663 shares during the period. State Street Corp owned about 0.45% of Turning Point Brands worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 15.85% of the company’s stock.
About Turning Point Brands
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) 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 chewing tobacco products.
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