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

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.23 per share on Friday, February 28th. This represents a $0.92 annualized dividend and a dividend yield of 3.32%.

Reynolds Consumer Products has a dividend payout ratio of 49.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Reynolds Consumer Products to earn $1.77 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 52.0%.

Reynolds Consumer Products Trading Up 1.7 %

Shares of NASDAQ REYN opened at $27.72 on Friday. Reynolds Consumer Products has a 12-month low of $25.88 and a 12-month high of $32.65. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 15.84 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $27.33 and its 200 day simple moving average is $28.79.

Reynolds Consumer Products (NASDAQ:REYN) last posted its 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). The company had revenue of $910.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. Equities research analysts expect that Reynolds Consumer Products will post 1.69 EPS for the current year.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 3,682 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now directly owns 10,889 shares in the company, valued at approximately $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the acquisition, the director now directly owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group reduced their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays reduced their price objective on Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.86.

About Reynolds Consumer Products

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.