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

Turning Point Brands (NYSE:TPB) issued its quarterly earnings results on Thursday. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01, Briefing.com reports. The business had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 34.39%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share.

Turning Point Brands Trading Up 4.2 %

NYSE TPB opened at $51.69 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. Turning Point Brands has a one year low of $21.19 and a one year high of $52.51. The company has a 50-day simple moving average of $42.95 and a 200-day simple moving average of $37.47. The firm has a market capitalization of $915.43 million, a PE ratio of 20.51 and a beta of 0.63.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.54%. Turning Point Brands’s payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TPB shares. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. 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 for the company. Benchmark reissued a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a report on Friday, August 2nd. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is owned by company insiders.

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.