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

Turning Point Brands (NYSE:TPB) issued its quarterly earnings data 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 return on equity of 36.11% and a net margin of 11.36%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $2.09 during trading on Friday, reaching $51.69. The stock had a trading volume of 156,755 shares, compared to its average volume of 117,775. The firm has a market capitalization of $915.43 million, a price-to-earnings ratio of 20.50 and a beta of 0.63. Turning Point Brands has a 52 week low of $21.19 and a 52 week high of $52.51. 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 fifty day simple moving average of $42.71 and a two-hundred day simple moving average of $37.24.

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 given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.54%. Turning Point Brands’s payout ratio is currently 11.57%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd. Roth Mkm initiated coverage on Turning Point Brands in a research note on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.