Turning Point Brands, Inc. Declares Quarterly Dividend of $0.08 (NYSE:TPB)

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, September 18th will be given a dividend of 0.08 per share on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, September 18th.

Turning Point Brands has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Turning Point Brands has a dividend payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Turning Point Brands to earn $2.24 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 14.3%.

Turning Point Brands Stock Up 3.3%

Shares of NYSE:TPB opened at $78.67 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. Turning Point Brands has a 1 year low of $65.80 and a 1 year high of $146.90. The stock has a market capitalization of $1.52 billion, a P/E ratio of 26.76 and a beta of 0.92. The stock has a 50-day simple moving average of $83.94 and a 200-day simple moving average of $95.22.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Equities analysts forecast that Turning Point Brands will post 1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPB. BTIG Research assumed coverage on shares of Turning Point Brands in a research note on Tuesday, July 21st. They issued a “buy” rating and a $103.00 target price on the stock. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Friday, May 8th. Compass Point set a $103.00 price objective on Turning Point Brands in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Turning Point Brands presently has an average rating of “Moderate Buy” and an average price target of $113.50.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.