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

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared a quarterly dividend on Thursday, April 24th, RTT News reports. Shareholders of record on Friday, May 16th will be given a dividend of 0.23 per share on Friday, May 30th. This represents a $0.92 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, May 16th.

Reynolds Consumer Products has a payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Reynolds Consumer Products to earn $1.74 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 52.9%.

Reynolds Consumer Products Trading Down 1.4%

Reynolds Consumer Products stock opened at $23.18 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The firm’s 50 day moving average price is $23.50 and its 200-day moving average price is $25.62. Reynolds Consumer Products has a 1 year low of $21.90 and a 1 year high of $32.65. The stock has a market cap of $4.88 billion, a P/E ratio of 13.80 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Reynolds Consumer Products’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts predict that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rolf Stangl purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the acquisition, the director now owns 19,389 shares in the company, valued at approximately $450,212.58. This trade represents a 14.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Truist Financial lowered their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Canaccord Genuity Group lowered their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, Barclays decreased their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and an average price target of $28.33.

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.