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

Key Points

• Turning Point Brands, Inc. (NYSE:TPB) announced a quarterly dividend of $0.08, which will be paid to stockholders of record on September 19th, 2023.
• The company reported earnings of $0.79 per share for the latest quarter, which met analyst expectations, along with a revenue increase of 25.1% year-over-year.
• Turning Point Brands' stock recently surged 14.3%, reaching a peak price of $92.75, which is trending well above its 12-month low of $36.00.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Stockholders of record on Friday, September 19th will be paid a dividend of 0.075 per share on Friday, October 10th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%.

Turning Point Brands has a dividend payout ratio of 8.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 $0.30 annual dividend with an expected future payout ratio of 9.7%.

Turning Point Brands Trading Up 14.3%

Shares of NYSE TPB traded up $11.61 during midday trading on Wednesday, hitting $92.75. 961,537 shares of the company traded hands, compared to its average volume of 260,168. Turning Point Brands has a 12-month low of $36.00 and a 12-month high of $94.40. The firm has a market cap of $1.66 billion, a P/E ratio of 40.68 and a beta of 0.66. The stock has a 50-day moving average price of $75.97 and a 200 day moving average price of $67.75. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.64 and a current ratio of 4.42.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $116.63 million for the quarter, compared to analyst estimates of $107.30 million. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The firm's revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, analysts expect that Turning Point Brands will post 2.59 earnings per share for the current year.

Analyst Ratings Changes

TPB has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Needham & Company LLC assumed coverage on shares of Turning Point Brands in a report on Friday, August 1st. They set a "hold" rating for the company. Finally, Oppenheimer boosted their price target on Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Turning Point Brands presently has a consensus rating of "Moderate Buy" and an average price target of $76.67.

Turning Point Brands Company Profile

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.

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