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

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, May 17th will be given a dividend of 0.23 per share on Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, May 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 dividend payout ratio of 53.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Reynolds Consumer Products to earn $1.71 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 53.8%.

Reynolds Consumer Products Stock Performance

NASDAQ REYN traded down $0.18 on Friday, hitting $28.46. 364,468 shares of the company traded hands, compared to its average volume of 448,221. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 20.04 and a beta of 0.49. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average price is $28.70 and its 200-day moving average price is $27.39. Reynolds Consumer Products has a 52-week low of $24.80 and a 52-week high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.53 earnings per share. Reynolds Consumer Products’s quarterly revenue was down 7.5% compared to the same quarter last year. Equities analysts expect that Reynolds Consumer Products will post 1.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on REYN. TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barclays lifted their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.80.

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.