Turning Point Brands (NYSE:TPB) Issues Earnings Results

Turning Point Brands (NYSE:TPB) released its earnings results on Monday. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.21, FiscalAI reports. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. During the same quarter in the previous year, the business posted $1.27 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year.

Turning Point Brands Price Performance

NYSE:TPB opened at $65.48 on Monday. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.27 billion, a P/E ratio of 28.11 and a beta of 1.08. Turning Point Brands has a 12 month low of $54.17 and a 12 month high of $146.90. The business’s 50-day moving average is $65.63 and its 200 day moving average is $85.76.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, December 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, December 18th. Turning Point Brands’s payout ratio is 13.73%.

Analyst Upgrades and Downgrades

TPB has been the topic of a number of analyst reports. Compass Point set a $116.00 target price on shares of Turning Point Brands in a research note on Monday, August 10th. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Oppenheimer cut their price target on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a report on Friday, August 28th. Finally, BTIG Research restated a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $108.50.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company’s principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker’s, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.