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

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared a quarterly dividend on Thursday, January 29th. Investors of record on Friday, February 13th will be given a dividend of 0.23 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, February 13th.

Reynolds Consumer Products has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 0.6%

REYN traded up $0.14 during midday trading on Friday, hitting $22.80. 118,696 shares of the company’s stock traded hands, compared to its average volume of 813,933. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.94 and a quick ratio of 0.80. The company has a market cap of $4.80 billion, a PE ratio of 15.62 and a beta of 0.57. Reynolds Consumer Products has a one year low of $20.91 and a one year high of $28.22. The stock’s fifty day simple moving average is $23.83 and its 200-day simple moving average is $23.50.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $931.00 million for the quarter, compared to the consensus estimate of $900.12 million. Reynolds Consumer Products had a net margin of 8.20% and a return on equity of 15.88%. Reynolds Consumer Products’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities analysts anticipate that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canaccord Genuity Group cut their target price on Reynolds Consumer Products from $27.00 to $24.00 and set a “hold” rating on the stock in a report on Monday. Zacks Research lowered Reynolds Consumer Products from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. UBS Group reduced their target price on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Royal Bank Of Canada increased their price target on Reynolds Consumer Products from $25.00 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Reynolds Consumer Products in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of “Hold” and an average target price of $26.25.

Reynolds Consumer Products Company Profile

Reynolds Consumer Products, Inc (NASDAQ: REYN) is a leading North American manufacturer and marketer of household consumer products. The company specializes in food storage and cooking solutions, including aluminum foil, plastic wrap, food storage containers and disposable tableware. Its core portfolio features well-known brands such as Reynolds Wrap aluminum foil, Hefty storage containers and trash bags, and Fastfold paper plates.

The company operates through a network of manufacturing and distribution facilities across North America, Latin America, Europe and the Asia Pacific region.