Reynolds Consumer Products Inc. (NASDAQ:REYN) to Issue $0.23 Quarterly Dividend

Reynolds Consumer Products Inc. (NASDAQ:REYNGet Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.23 per share on Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, May 16th.

Reynolds Consumer Products has raised its dividend by an average of 16.0% per year over the last three years. Reynolds Consumer Products has a payout ratio of 53.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Reynolds Consumer Products to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 53.2%.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock opened at $29.02 on Tuesday. The company has a market cap of $6.10 billion, a PE ratio of 18.48 and a beta of 0.48. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a 52 week low of $24.80 and a 52 week high of $30.54. The business has a 50 day moving average price of $28.56 and a 200-day moving average price of $27.67.

Reynolds Consumer Products (NASDAQ:REYNGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $814.92 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. Equities analysts anticipate that Reynolds Consumer Products will post 1.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on REYN shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Barclays lifted their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Stifel Nicolaus reissued a “hold” rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group boosted their target price on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.00.

Check Out Our Latest Report on Reynolds Consumer Products

About Reynolds Consumer Products

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Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.

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Dividend History for Reynolds Consumer Products (NASDAQ:REYN)

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