Turning Point Brands (NYSE:TPB) Announces 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 analysts’ consensus estimates of $0.65 by ($0.12), Zacks reports. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%.

Turning Point Brands Stock Down 3.0 %

Shares of NYSE TPB traded down $1.99 during trading on Thursday, hitting $65.03. 168,331 shares of the company traded hands, compared to its average volume of 142,002. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands has a fifty-two week low of $26.14 and a fifty-two week high of $72.54. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 25.78 and a beta of 0.74. The business’s fifty day moving average is $62.82 and its 200 day moving average is $53.72.

Turning Point Brands Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPB. Craig Hallum boosted their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Alliance Global Partners began coverage on shares of Turning Point Brands in a research report on Monday. They set a “buy” rating and a $80.00 price objective for the company. Benchmark boosted their target price on shares of 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, StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Turning Point Brands currently has an average rating of “Buy” and an average price target 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.