Reynolds Consumer Products Inc. (REYN) To Go Ex-Dividend on November 15th

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.23 per share on Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, November 15th.

Reynolds Consumer Products has raised its dividend payment by an average of 16.0% per year over the last three years. Reynolds Consumer Products has a payout ratio of 52.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Reynolds Consumer Products to earn $1.75 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 52.6%.

Reynolds Consumer Products Stock Up 0.3 %

REYN stock opened at $27.63 on Wednesday. Reynolds Consumer Products has a one year low of $25.80 and a one year high of $32.65. The firm has a market cap of $5.81 billion, a PE ratio of 15.79 and a beta of 0.50. The firm’s 50 day moving average price is $30.08 and its 200-day moving average price is $29.16. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business had revenue of $910.00 million during the quarter, compared to analyst estimates of $902.88 million. During the same period last year, the company earned $0.37 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Reynolds Consumer Products will post 1.69 EPS for the current year.

Analyst Ratings Changes

REYN has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price on the stock. Canaccord Genuity Group increased their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Barclays decreased their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.17.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 7,207 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $27.25 per share, with a total value of $196,390.75. Following the transaction, the director now owns 7,207 shares in the company, valued at $196,390.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.