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

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend on an annualized basis 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 dividend payout ratio of 53.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

REYN traded down $0.18 during trading hours on Friday, hitting $28.46. 364,468 shares of the stock were exchanged, compared to its average volume of 448,221. The stock has a 50-day simple moving average of $28.70 and a 200-day simple moving average of $27.40. Reynolds Consumer Products has a 12 month low of $24.80 and a 12 month high of $30.54. The stock has a market cap 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 (NASDAQ:REYN - Get Free Report) 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. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the business posted $0.53 earnings per share. The firm's revenue for the quarter was down 7.5% on a year-over-year basis. Analysts anticipate that Reynolds Consumer Products will post 1.61 earnings per share for the current year.

Wall Street Analyst Weigh In

REYN has been the topic of several research analyst reports. Barclays raised their price objective on 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. Stifel Nicolaus reiterated a "hold" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. TheStreet upgraded Reynolds Consumer Products from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of "Hold" and an average 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.