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

Reynolds Consumer Products Inc. (NASDAQ:REYNGet Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 3.16%. The ex-dividend date of this dividend is Thursday, May 16th.

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 payout ratio of 53.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

REYN stock opened at $29.15 on Wednesday. The firm has a 50-day moving average of $28.56 and a 200 day moving average of $27.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.11 and a quick ratio of 1.01. The company has a market cap of $6.13 billion, a P/E ratio of 18.57 and a beta of 0.48. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54.

Reynolds Consumer Products (NASDAQ:REYNGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, beating 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. On average, sell-side analysts forecast that Reynolds Consumer Products will post 1.67 EPS for the current year.

Analyst Ratings Changes

REYN has been the subject of a number of recent research reports. TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Barclays lifted their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Stifel Nicolaus reiterated a “hold” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group boosted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of “Hold” and an average target price of $30.00.

Check Out Our Latest Research Report on REYN

Reynolds Consumer Products Company Profile

(Get Free Report)

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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