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

Turning Point Brands (NYSE:TPB) posted its quarterly earnings results on Thursday. The company reported $0.53 EPS for the quarter, missing the consensus estimate 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 Price Performance

Shares of Turning Point Brands stock traded down $2.00 during mid-day trading on Thursday, reaching $65.02. 154,036 shares of the stock traded hands, compared to its average volume of 141,974. 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 business has a 50-day moving average of $62.82 and a 200 day moving average of $53.72. The stock has a market capitalization of $1.15 billion, a PE ratio of 25.80 and a beta of 0.74. Turning Point Brands has a fifty-two week low of $26.14 and a fifty-two week high of $72.54.

Turning Point Brands Increases Dividend

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

Wall Street Analyst Weigh In

TPB has been the topic of a number of recent research reports. Roth Mkm restated a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a report on Monday. They set a “buy” rating and a $80.00 target price for the company. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Oppenheimer started coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Craig Hallum upped their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Turning Point Brands currently has a consensus rating of “Buy” and a consensus target price of $71.00.

About Turning Point Brands

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.