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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.23 per share on Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend 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% per year 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 Trading Down 0.2 %

Shares of REYN opened at $27.58 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 15.76 and a beta of 0.50. The company has a 50-day moving average of $30.08 and a 200 day moving average of $29.16. Reynolds Consumer Products has a 1-year low of $25.80 and a 1-year high of $32.65.

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

Analyst Ratings Changes

REYN has been the subject of a number of recent analyst reports. 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 price objective for the company. Canaccord Genuity Group raised their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Barclays reduced their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products currently has an average rating of “Hold” and an average price target of $32.17.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 7,207 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now owns 7,207 shares in the company, valued at approximately $196,390.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.