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 annualized dividend and a dividend yield of 3.32%.

Reynolds Consumer Products has a dividend 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 Stock Up 1.7 %

Shares of NASDAQ REYN traded up $0.45 during trading on Thursday, hitting $27.72. The stock had a trading volume of 385,378 shares, compared to its average volume of 467,300. Reynolds Consumer Products has a 12 month low of $25.88 and a 12 month high of $32.65. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The company has a market capitalization of $5.83 billion, a PE ratio of 15.84 and a beta of 0.50. The firm has a fifty day moving average of $27.33 and a two-hundred day moving average of $28.79.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The firm had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Reynolds Consumer Products will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on REYN. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays reduced their price target on shares of 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. Finally, UBS Group reduced their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.86.

Insiders Place Their Bets

In other news, Director Helen Golding purchased 1,190 shares of the stock in a transaction dated Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the acquisition, the director now owns 1,190 shares in the company, valued at $32,820.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rolf Stangl purchased 7,207 shares of the stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the acquisition, the director now owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 12,079 shares of company stock worth $330,466 over the last quarter. 0.20% of the stock is currently owned by company 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.