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

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared 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 raised its dividend payment by an average of 16.0% annually over the last three years. Reynolds Consumer Products has a dividend payout ratio of 53.5% meaning 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 %

Shares of REYN traded down $0.18 during trading hours on Friday, hitting $28.46. The company had a trading volume of 364,468 shares, compared to its average volume of 448,221. The firm has a market cap of $5.98 billion, a P/E ratio of 20.04 and a beta of 0.49. The stock’s 50 day moving average price is $28.70 and its 200 day moving average price is $27.39. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92. 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 quarterly earnings data on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, research analysts predict that Reynolds Consumer Products will post 1.61 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on REYN. Barclays raised their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Stifel Nicolaus reissued a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. TheStreet raised Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 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.com, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus target price 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.