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

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, November 15th.

Reynolds Consumer Products has raised its dividend by an average of 16.0% annually over the last three years. Reynolds Consumer Products has a dividend payout ratio of 51.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Reynolds Consumer Products to earn $1.79 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 51.4%.

Reynolds Consumer Products Trading Down 1.1 %

NASDAQ REYN traded down $0.32 on Friday, reaching $29.81. The company had a trading volume of 302,839 shares, compared to its average volume of 562,625. The stock's 50 day moving average is $30.87 and its 200-day moving average is $29.21. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 18.99 and a beta of 0.48. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. Reynolds Consumer Products has a 52 week low of $24.85 and a 52 week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. The business had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The firm's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Equities analysts predict that Reynolds Consumer Products will post 1.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on REYN. Barclays increased their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 8th. Canaccord Genuity Group increased their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price target for the company. JPMorgan Chase & Co. increased their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada increased their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $32.33.

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.