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

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 16th will be given a dividend of $0.23 per share on Monday, November 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, November 16th.

Reynolds Consumer Products has increased its dividend payment by an average of 0.1% annually over the last three years. Reynolds Consumer Products has a dividend payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Reynolds Consumer Products to earn $1.68 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 54.8%.

Reynolds Consumer Products Trading Up 0.8%

Shares of NASDAQ:REYN traded up $0.19 during midday trading on Friday, hitting $23.79. The company had a trading volume of 256,034 shares, compared to its average volume of 1,189,963. The company has a current ratio of 1.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.66. Reynolds Consumer Products has a 12 month low of $20.44 and a 12 month high of $27.32. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 14.48 and a beta of 0.55. The firm has a fifty day simple moving average of $22.66 and a 200 day simple moving average of $23.23.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.03%. The business had revenue of $944.00 million for the quarter, compared to analyst estimates of $935.46 million. During the same quarter last year, the firm earned $0.39 EPS. Reynolds Consumer Products’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts predict that Reynolds Consumer Products will post 1.60 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on REYN shares. UBS Group reiterated a “neutral” rating and issued a $24.00 price objective on shares of Reynolds Consumer Products in a report on Tuesday. Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Piper Sandler upgraded shares of Reynolds Consumer Products to an “overweight” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Reynolds Consumer Products in a report on Friday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on Reynolds Consumer Products from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and a consensus target price of $24.60.

About Reynolds Consumer Products

Reynolds Consumer Products Inc (NASDAQ:REYN) manufactures and markets household products used for food preparation, storage, cleanup and waste management. Its portfolio includes aluminum foil, parchment paper, plastic wrap, disposable cookware, trash bags, food-storage bags and other everyday consumer products.

The company sells products under well-known brands including Reynolds and Reynolds Kitchens, Hefty, Presto, Diamond and Fresh. Its offerings are distributed through grocery stores, mass merchants, club stores, e-commerce channels and other retail outlets, as well as through foodservice and other commercial customers.

Reynolds Consumer Products serves consumers primarily in the United States and Canada.