Reynolds Consumer Products Inc. (REYN) to Issue Quarterly Dividend of $0.23 on November 30th

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, October 29th. Shareholders 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 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% per year over the last three years. Reynolds Consumer Products has a dividend payout ratio of 55.8% meaning 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 0.1%

REYN opened at $23.63 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.80 and a quick ratio of 0.71. The company’s 50 day simple moving average is $22.62 and its two-hundred day simple moving average is $23.23. Reynolds Consumer Products has a 1-year low of $20.44 and a 1-year high of $27.32. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 13.80 and a beta of 0.55.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Reynolds Consumer Products had a return on equity of 16.03% and a net margin of 9.11%. The business had revenue of $944.00 million during the quarter, compared to analyst estimates of $935.46 million. During the same period in the prior year, the business earned $0.39 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Analysts expect that Reynolds Consumer Products will post 1.60 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on REYN. Barclays reduced their price objective on Reynolds Consumer Products from $26.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 15th. UBS Group restated a “neutral” rating and issued a $24.00 target price on shares of Reynolds Consumer Products in a report on Tuesday. JPMorgan Chase & Co. raised their target price on Reynolds Consumer Products from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reynolds Consumer Products in a research note on Friday, September 25th. Finally, Piper Sandler upgraded Reynolds Consumer Products to an “overweight” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.