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 NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand. The Stoker's Products segment manufactures and markets moist snuff tobacco and loose-leaf chewing tobacco products under the Stoker's, Beech-Nut, Durango, Trophy, and Wind River brands. The NewGen Products segment markets and distributes cannabidiol isolate, liquid vapor products, and other products without tobacco and/or nicotine to individual consumers through VaporFi B2C online platform, as well as non-traditional retail through VaporBeast. It sells its products to wholesale distributors and retail merchants in the independent and chain convenience stores, tobacco outlets, food stores, mass merchandising, and drug stores. The company was formerly known as North Atlantic Holding Company, Inc. and changed its name to Turning Point Brands, Inc. in November 2015. Turning Point Brands, Inc. was founded in 1988 and is headquartered in Louisville, Kentucky.
Turning Point Brands Trading Down 2.5 %
Shares of NYSE:TPB traded down $0.64 during mid-day trading on Tuesday, hitting $24.49. The stock had a trading volume of 2,015 shares, compared to its average volume of 300,911. The company has a debt-to-equity ratio of 3.25, a quick ratio of 2.94 and a current ratio of 5.28. The company has a market cap of $436.90 million, a PE ratio of 12.14 and a beta of 0.45. Turning Point Brands has a 12-month low of $22.04 and a 12-month high of $52.17. The company's 50 day moving average is $27.51 and its 200-day moving average is $30.24.
Turning Point Brands (NYSE:TPB - Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. The business had revenue of $102.90 million during the quarter, compared to the consensus estimate of $105.86 million. Turning Point Brands had a net margin of 9.87% and a return on equity of 42.69%. The firm's quarterly revenue was down 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, sell-side analysts predict that Turning Point Brands will post 2.68 EPS for the current year.
Turning Point Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 16th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.24 annualized dividend and a yield of 0.98%. Turning Point Brands's dividend payout ratio is presently 11.59%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Cowen reduced their price target on shares of Turning Point Brands from $65.00 to $45.00 in a research note on Thursday, July 28th. TheStreet lowered shares of Turning Point Brands from a "b-" rating to a "c+" rating in a research note on Thursday, May 19th. Cowen cut their target price on shares of Turning Point Brands from $65.00 to $45.00 in a research note on Thursday, July 28th. B. Riley cut their target price on shares of Turning Point Brands from $45.00 to $39.00 in a research note on Thursday, July 28th. Finally, Craig Hallum cut their target price on shares of Turning Point Brands from $50.00 to $45.00 in a research note on Thursday, July 28th.