Reynolds Consumer Products Inc. (REYN) To Go Ex-Dividend on May 16th

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 paid a dividend of 0.23 per share on Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a 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 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 Stock Down 0.6 %

Shares of NASDAQ:REYN traded down $0.18 during trading on Friday, hitting $28.46. 364,468 shares of the company were exchanged, compared to its average volume of 448,221. The firm’s 50 day moving average price is $28.70 and its 200-day moving average price is $27.39. The stock has a market capitalization of $5.98 billion, a P/E ratio of 20.04 and a beta of 0.49. Reynolds Consumer Products has a 12-month low of $24.80 and a 12-month high of $30.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. On average, research analysts predict that Reynolds Consumer Products will post 1.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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