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

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, May 16th.

Reynolds Consumer Products has raised its dividend by an average of 16.0% per year over the last three years. Reynolds Consumer Products has a payout ratio of 53.5% indicating that 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 Price Performance

Shares of REYN traded down $0.18 during mid-day trading on Friday, hitting $28.46. The company’s stock had a trading volume of 364,468 shares, compared to its average volume of 448,221. The firm has a 50-day moving average price of $28.70 and a 200 day moving average price of $27.39. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 20.04 and a beta of 0.49. 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 has a fifty-two week low of $24.80 and a fifty-two week high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The company 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 was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. On average, research analysts predict that Reynolds Consumer Products will post 1.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

REYN has been the topic of several recent research reports. Barclays lifted their price objective on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Stifel Nicolaus restated a “hold” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, TheStreet upgraded shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company currently 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.