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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend yield of 3.23%. The ex-dividend date is Thursday, May 16th.

Reynolds Consumer Products has increased 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 research 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 Trading Down 0.6 %

NASDAQ:REYN traded down $0.18 during trading hours on Friday, reaching $28.46. The company’s stock had a trading volume of 364,468 shares, compared to its average volume of 448,221. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 20.04 and a beta of 0.49. The firm has a 50-day simple moving average of $28.70 and a 200-day simple moving average of $27.39. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue was down 7.5% compared to the same quarter last year. Research analysts expect that Reynolds Consumer Products will post 1.61 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.