Turning Point Brands (NYSE:TPB) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Turning Point Brands (NYSE:TPB) announced its quarterly earnings data on Thursday. The company reported $0.53 earnings per share (EPS) 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 Down 3.0 %

TPB stock traded down $2.00 during mid-day trading on Thursday, reaching $65.02. The company had a trading volume of 154,036 shares, compared to its average volume of 141,974. Turning Point Brands has a fifty-two week low of $26.14 and a fifty-two week high of $72.54. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 25.80 and a beta of 0.74. 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 firm has a fifty day simple moving average of $62.82 and a 200 day simple moving average of $53.72.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.075 per share. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.46%. Turning Point Brands’s dividend payout ratio is 11.90%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TPB. Oppenheimer started coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price on the stock. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Monday. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Craig Hallum boosted their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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.