Turning Point Brands (NYSE:TPB) Announces Earnings Results, Beats Estimates By $0.01 EPS

Turning Point Brands (NYSE:TPB) announced its quarterly earnings results on Thursday. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01, Briefing.com reports. The firm had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share.

Turning Point Brands Trading Up 4.2 %

Shares of TPB stock traded up $2.09 on Friday, reaching $51.69. 156,674 shares of the stock were exchanged, compared to its average volume of 117,775. The firm has a 50 day moving average of $42.71 and a two-hundred day moving average of $37.24. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The stock has a market cap of $915.43 million, a P/E ratio of 20.50 and a beta of 0.63. Turning Point Brands has a 1-year low of $21.19 and a 1-year high of $52.51.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.57%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TPB. Roth Mkm started coverage on Turning Point Brands in a research note on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Benchmark reiterated a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a research note on Friday, August 2nd.

Insiders Place Their Bets

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.20% of the company’s stock.

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.