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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.23 per share on Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, August 16th.

Reynolds Consumer Products has raised its dividend payment by an average of 16.0% per year over the last three years. Reynolds Consumer Products has a payout ratio of 52.9% meaning its dividend is sufficiently covered by earnings. Research 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

Reynolds Consumer Products stock traded up $0.43 during mid-day trading on Friday, reaching $27.79. 301,941 shares of the company were exchanged, compared to its average volume of 534,358. Reynolds Consumer Products has a twelve month low of $24.80 and a twelve month high of $30.54. The firm’s 50-day simple moving average is $27.92 and its two-hundred day simple moving average is $28.21. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. The firm has a market cap of $5.84 billion, a PE ratio of 17.66 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $814.92 million. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. Equities analysts predict that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on REYN shares. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday. Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, May 9th. Finally, Barclays reduced their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.67.

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.