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

Turning Point Brands (NYSE:TPB - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01, Briefing.com reports. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The business had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the business earned $0.69 earnings per share. The company's revenue was up 3.8% on a year-over-year basis.

Turning Point Brands Trading Up 4.2 %

Turning Point Brands stock traded up $2.09 during trading hours on Friday, hitting $51.69. The stock had a trading volume of 156,760 shares, compared to its average volume of 117,775. The business's 50 day simple moving average is $42.95 and its 200-day simple moving average is $37.47. Turning Point Brands has a one year low of $21.19 and a one year high of $52.51. The stock has a market cap of $915.64 million, a price-to-earnings ratio of 20.51 and a beta of 0.63. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.07 dividend. The ex-dividend date 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 presently 11.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Roth Capital raised Turning Point Brands to a "strong-buy" rating in a report on Thursday, September 19th. StockNews.com downgraded Turning Point Brands from a "strong-buy" rating to a "buy" rating in a research note on Thursday, October 24th. Roth Mkm started coverage on shares of Turning Point Brands in a research note on Thursday, September 19th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Benchmark reaffirmed a "buy" rating and set a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.20% of the company's stock.

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.