Turning Point Brands (NYSE:TPB) Issues Earnings Results

Turning Point Brands (NYSE:TPB) released its earnings results on Thursday. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.12), Zacks reports. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%.

Turning Point Brands Stock Performance

TPB traded down $1.99 on Thursday, hitting $65.03. The company’s stock had a trading volume of 168,331 shares, compared to its average volume of 142,002. Turning Point Brands has a 12 month low of $26.14 and a 12 month high of $72.54. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.15 billion, a P/E ratio of 25.78 and a beta of 0.74. The company’s 50 day simple moving average is $62.82 and its 200-day simple moving average is $53.72.

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. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.46%. Turning Point Brands’s dividend payout ratio (DPR) is 11.90%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TPB shares. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Alliance Global Partners began coverage on shares of Turning Point Brands in a report on Monday. They issued a “buy” rating and a $80.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $71.00.

Turning Point Brands Company Profile

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.