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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.23 per share on Friday, February 28th. This represents a $0.92 annualized dividend and a yield of 3.32%.

Reynolds Consumer Products has a dividend payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

Reynolds Consumer Products stock traded up $0.45 during midday trading on Thursday, hitting $27.72. The company’s stock had a trading volume of 385,378 shares, compared to its average volume of 467,300. Reynolds Consumer Products has a 1-year low of $25.88 and a 1-year 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 50-day moving average price of $27.33 and a two-hundred day moving average price of $28.79. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 15.84 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last issued its 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). The firm had revenue of $910.00 million during the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. Reynolds Consumer Products’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, sell-side analysts predict that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Helen Golding acquired 1,190 shares of Reynolds Consumer Products stock in a transaction dated Thursday, November 14th. The shares were bought at an average cost of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rolf Stangl acquired 3,682 shares of Reynolds Consumer Products stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now owns 10,889 shares in the company, valued at approximately $299,447.50. The trade was a 51.09 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 12,079 shares of company stock valued at $330,466 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on REYN shares. Barclays dropped their target price 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. JPMorgan Chase & Co. dropped 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 report on Thursday, January 16th. Finally, UBS Group dropped their target price 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.86.

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.