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 30th,RTT News reports. Stockholders 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 dividend yield of 3.32%.

Reynolds Consumer Products has a payout ratio of 49.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 $27.72 on Friday. The firm has a market capitalization of $5.83 billion, a P/E ratio of 15.84 and a beta of 0.50. The stock has a fifty day moving average of $27.33 and a 200-day moving average of $28.79. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products has a 12-month low of $25.88 and a 12-month high of $32.65.

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). The business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. Equities analysts forecast that Reynolds Consumer Products will post 1.69 EPS for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays reduced their price objective 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. 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 report on Thursday, January 16th. Finally, UBS Group lowered their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and an average price target of $30.86.

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.