Reynolds Consumer Products Inc. (NASDAQ:REYN) to Issue $0.23 Quarterly Dividend

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

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

Shares of REYN traded up $0.14 during trading hours on Friday, hitting $22.80. 118,696 shares of the stock traded hands, compared to its average volume of 813,933. The business has a fifty day moving average of $23.83 and a 200-day moving average of $23.50. The firm has a market capitalization of $4.80 billion, a PE ratio of 15.62 and a beta of 0.57. Reynolds Consumer Products has a 1-year low of $20.91 and a 1-year high of $28.22. The company has a current ratio of 1.94, a quick ratio of 0.80 and a debt-to-equity ratio of 0.74.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on REYN shares. Royal Bank Of Canada boosted their price target on shares of Reynolds Consumer Products from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Zacks Research lowered Reynolds Consumer Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Canaccord Genuity Group lowered their price target on Reynolds Consumer Products from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Reynolds Consumer Products in a report on Wednesday. Finally, UBS Group decreased their target price on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Reynolds Consumer Products has an average 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.