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

Reynolds Consumer Products Inc. (NASDAQ:REYNGet Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, May 17th will be given a dividend of 0.23 per share on Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, May 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 53.2% indicating that 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 Trading Up 0.4 %

NASDAQ REYN opened at $29.15 on Wednesday. The company has a 50-day moving average of $28.56 and a 200-day moving average of $27.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.11 and a quick ratio of 1.01. Reynolds Consumer Products has a 12 month low of $24.80 and a 12 month high of $30.54. The company has a market cap of $6.13 billion, a P/E ratio of 18.57 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYNGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $833.00 million for 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%. Reynolds Consumer Products’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS. As a group, equities analysts predict that Reynolds Consumer Products will post 1.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on REYN shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Canaccord Genuity Group increased their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, May 9th. Finally, Barclays increased their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.00.

Read Our Latest Stock Report on Reynolds Consumer Products

About Reynolds Consumer Products

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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.

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Dividend History for Reynolds Consumer Products (NASDAQ:REYN)

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