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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.23 per share on Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, August 16th.

Reynolds Consumer Products has raised its dividend by an average of 16.0% annually over the last three years. Reynolds Consumer Products has a dividend payout ratio of 52.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Reynolds Consumer Products to earn $1.73 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 53.2%.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN traded up $0.43 during mid-day trading on Friday, hitting $27.79. 301,941 shares of the stock were exchanged, compared to its average volume of 534,358. The company has a market cap of $5.84 billion, a P/E ratio of 17.66 and a beta of 0.47. The stock’s fifty day simple moving average is $27.92 and its two-hundred day simple moving average is $28.21. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. Reynolds Consumer Products has a twelve month low of $24.80 and a twelve month high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $833.00 million during the quarter, compared to analyst estimates of $814.92 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.08 earnings per share. As a group, analysts forecast that Reynolds Consumer Products will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Canaccord Genuity Group increased their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.67.

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.