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

Key Points

• Turning Point Brands declared a quarterly dividend of $0.08 per share, payable January 8 to shareholders of record December 18. The annualized dividend is $0.32, yielding approximately 0.5%.
• The company has raised its dividend for seven consecutive years, with a low current payout ratio of 9.0%; analysts expect the dividend to remain well covered by projected earnings.
• Analysts maintain a consensus “Moderate Buy” rating with a $109 price target, despite the stock trading near $66.59 and having recently declined 1.1%.

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

Turning Point Brands has increased its dividend by an average of 0.1% per year over the last three years and has increased 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. Research 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 Down 1.1%

NYSE TPB opened at $66.59 on Tuesday. 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 stock has a market capitalization of $1.29 billion, a PE ratio of 28.80 and a beta of 0.97. Turning Point Brands has a 1 year low of $54.17 and a 1 year high of $146.90. The business's 50-day moving average is $67.06 and its 200 day moving average is $86.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company 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. Turning Point Brands's revenue was up 22.6% compared to the same quarter last year. Sell-side analysts forecast that Turning Point Brands will post 1.19 earnings per share for the current year.

Analyst Ratings Changes

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

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