Turning Point Brands, Inc. (TPB) to Distribute Quarterly Dividend of $0.08 on January 8th

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Monday, November 2nd. Investors of record on Friday, December 18th will be paid a dividend of $0.08 per share on Friday, January 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, December 18th.

Turning Point Brands has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 7 years. Turning Point Brands has a payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Turning Point Brands to earn $2.02 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 15.8%.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $67.40 on Wednesday. Turning Point Brands has a 12-month low of $54.17 and a 12-month high of $146.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 28.93 and a beta of 1.08. The business has a 50 day simple moving average of $66.74 and a 200 day simple moving average of $86.52.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%. The firm had revenue of $142.96 million for the quarter, compared to the consensus estimate of $129.56 million. During the same quarter in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities research analysts anticipate that Turning Point Brands will post 1.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TPB shares. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a report on Friday, August 28th. Compass Point set a $116.00 price objective on shares of Turning Point Brands in a report on Monday, August 10th. Oppenheimer decreased their target price on shares of Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 22nd. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 10th. Finally, BTIG Research reissued a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Four equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.00.

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.