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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.23 per share on Friday, February 28th. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, February 14th.

Reynolds Consumer Products has a payout ratio of 49.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Reynolds Consumer Products to earn $1.77 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 52.0%.

Reynolds Consumer Products Price Performance

REYN opened at $27.61 on Friday. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 15.78 and a beta of 0.50. Reynolds Consumer Products has a 1 year low of $25.88 and a 1 year 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 has a fifty day moving average price of $27.33 and a 200 day moving average price of $28.79.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on REYN shares. UBS Group reduced their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Barclays reduced their price target on Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and an average price target of $30.86.

Insider Buying and Selling

In other news, Director Helen Golding purchased 1,190 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rolf Stangl acquired 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now owns 10,889 shares in the company, valued at approximately $299,447.50. This trade represents a 51.09 % increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

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.