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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.23 per share on Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, November 15th.

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 52.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Reynolds Consumer Products to earn $1.75 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 52.6%.

Reynolds Consumer Products Trading Up 0.3 %

NASDAQ:REYN opened at $27.63 on Wednesday. Reynolds Consumer Products has a 12-month low of $25.80 and a 12-month high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $30.08 and its 200-day simple moving average is $29.16. The firm has a market cap of $5.81 billion, a P/E ratio of 15.79 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The firm had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same quarter in the previous year, the company posted $0.37 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Reynolds Consumer Products will post 1.69 EPS for the current year.

Insider Buying and Selling

In other news, Director Rolf Stangl purchased 7,207 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the acquisition, the director now directly owns 7,207 shares in the company, valued at $196,390.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

REYN has been the subject of several recent analyst reports. Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Barclays lowered their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target on the stock. Royal Bank of Canada lifted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $32.17.

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.