Black Diamond Therapeutics (NASDAQ:REYN) Announces Dividend Increase – $0.22 Per Share

Black Diamond Therapeutics (NASDAQ:REYN) announced a quarterly dividend on Wednesday, August 5th, Zacks reports. Stockholders of record on Sunday, August 16th will be paid a dividend of 0.22 per share on Monday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, August 13th. This is a boost from Black Diamond Therapeutics’s previous quarterly dividend of $0.15.

Black Diamond Therapeutics has a payout ratio of 46.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Black Diamond Therapeutics to earn $1.94 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 45.4%.

Shares of NASDAQ REYN traded up $1.11 during midday trading on Wednesday, reaching $33.21. 5,568 shares of the stock were exchanged, compared to its average volume of 786,141. The firm has a 50 day moving average of $33.83. The stock has a market cap of $6.72 billion and a PE ratio of 22.40. The company has a quick ratio of 1.82, a current ratio of 2.81 and a debt-to-equity ratio of 1.63. Black Diamond Therapeutics has a twelve month low of $21.61 and a twelve month high of $36.00.

Black Diamond Therapeutics (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The firm had revenue of $798.00 million for the quarter, compared to analyst estimates of $853.11 million. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts predict that Black Diamond Therapeutics will post 1.92 earnings per share for the current year.

A number of analysts have recently issued reports on REYN shares. ValuEngine downgraded shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, August 7th. Citigroup upped their target price on shares of Black Diamond Therapeutics from $33.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Black Diamond Therapeutics from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Zacks Investment Research raised shares of Black Diamond Therapeutics from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Saturday. Finally, Barclays reaffirmed a “hold” rating and issued a $34.00 price target on shares of Black Diamond Therapeutics in a report on Sunday, May 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Black Diamond Therapeutics has a consensus rating of “Buy” and a consensus target price of $36.40.

About Black Diamond Therapeutics

Reynolds Consumer Products Inc, a consumer products company, produces and sells products across cooking, waste and storage, and tableware. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produce foil, parchment paper, and disposable aluminum pans, as well as cooker liners.

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