Reynolds Consumer Products Inc. (NASDAQ:REYN) Announces Quarterly Dividend of $0.23

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.23 per share on Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, November 15th.

Reynolds Consumer Products has increased its dividend payment by an average of 16.0% annually over the last three years. Reynolds Consumer Products has a dividend payout ratio of 52.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Reynolds Consumer Products to earn $1.75 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 52.6%.

Reynolds Consumer Products Stock Down 0.2 %

REYN opened at $27.58 on Thursday. The firm has a market cap of $5.80 billion, a P/E ratio of 15.76 and a beta of 0.50. The business’s fifty day simple moving average is $30.08 and its 200 day simple moving average is $29.16. Reynolds Consumer Products has a 52 week low of $25.80 and a 52 week high of $32.65. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $910.00 million during the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. As a group, equities research analysts anticipate that Reynolds Consumer Products will post 1.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Barclays lowered their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group increased their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.17.

Insider Activity

In related news, Director Rolf Stangl purchased 7,207 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $27.25 per share, with a total value of $196,390.75. Following the transaction, the director now owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Company Profile

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.