Turning Point Brands, Inc. (TPB) to Issue Quarterly Dividend of $0.07 on January 10th

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 20th will be paid a dividend of 0.07 per share on Friday, January 10th. This represents a $0.28 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, December 20th.

Turning Point Brands has increased its dividend payment by an average of 9.1% annually over the last three years. Turning Point Brands has a dividend payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Turning Point Brands to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.1%.

Turning Point Brands Stock Performance

TPB stock opened at $60.61 on Wednesday. The firm has a market cap of $1.07 billion, a PE ratio of 24.05 and a beta of 0.66. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $53.88 and a 200-day moving average price of $42.96. Turning Point Brands has a 1-year low of $21.98 and a 1-year high of $66.18.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, equities research analysts expect that Turning Point Brands will post 2.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TPB. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective (up previously from $55.00) on shares of Turning Point Brands in a research note on Tuesday. Finally, Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Turning Point Brands presently has a consensus rating of “Buy” and a consensus price target of $68.75.

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.