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

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

Reynolds Consumer Products has increased 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. 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

REYN traded down $0.18 during midday trading on Friday, reaching $28.46. 364,468 shares of the company’s stock were exchanged, compared to its average volume of 448,221. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08. The stock has a market capitalization of $5.98 billion, a PE ratio of 20.04 and a beta of 0.49. The business’s 50-day moving average price is $28.70 and its 200 day moving average price is $27.39. Reynolds Consumer Products has a 1-year low of $24.80 and a 1-year high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, equities analysts anticipate that Reynolds Consumer Products will post 1.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on REYN. TheStreet upgraded shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Barclays lifted their price target on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Stifel Nicolaus restated a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.80.

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.