Tootsie Roll Industries (NYSE:TR) Releases Quarterly Earnings Results

Tootsie Roll Industries (NYSE:TR) announced its earnings results on Friday. The company reported $0.31 earnings per share (EPS) for the quarter, Zacks reports. Tootsie Roll Industries had a net margin of 13.14% and a return on equity of 10.16%. The business had revenue of $229.05 million for the quarter.

Tootsie Roll Industries Price Performance

Shares of TR traded down $0.09 during trading hours on Friday, hitting $38.99. The stock had a trading volume of 146,460 shares, compared to its average volume of 176,354. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 30.36 and a beta of 0.41. The company’s fifty day moving average is $37.84 and its two-hundred day moving average is $39.69. Tootsie Roll Industries has a 52 week low of $33.94 and a 52 week high of $45.06.

Tootsie Roll Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, October 7th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, October 7th. Tootsie Roll Industries’s payout ratio is currently 28.12%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Tootsie Roll Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc manufactures and sells confectionery products in the United States and internationally. Its portfolio includes chocolate, candy, gum and other sweets marketed under brands such as Tootsie Roll, Tootsie Pop, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Charms Blow Pop.

The company traces its origins to 1896, when Leo Hirschfield began producing candy in New York City. Tootsie Roll, one of its best-known products, was introduced in the late 19th century and named after Hirschfield’s daughter, Clara, whose nickname was “Tootsie.” The company later expanded through brand development and acquisitions, building a broad portfolio of widely recognized confectionery products.

Tootsie Roll Industries is headquartered in Chicago, Illinois.