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

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

Tootsie Roll Industries Stock Down 0.2%

Tootsie Roll Industries stock traded down $0.09 during midday trading on Friday, hitting $38.99. 146,460 shares of the stock were exchanged, compared to its average volume of 176,354. Tootsie Roll Industries has a 52 week low of $33.94 and a 52 week high of $45.06. The stock has a market capitalization of $2.93 billion, a PE ratio of 30.36 and a beta of 0.41. The company has a fifty day simple moving average of $37.84 and a two-hundred day simple moving average of $39.69.

Tootsie Roll Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, October 7th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.36 annualized dividend and a yield of 0.9%. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 28.12%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Tootsie Roll Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has an average 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.