Reynolds American (RAI) Posts Quarterly Earnings Results, Hits Estimates
Reynolds American (NYSE:RAI) released its earnings data on Tuesday. The company reported $0.86 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.86, StockRatingsNetwork reports. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Reynolds American updated its FY13 guidance to $3.17-3.27 EPS.
Reynolds American (NYSE:RAI) opened at 50.81 on Tuesday. Reynolds American has a 52-week low of $39.70 and a 52-week high of $52.93. The stock’s 50-day moving average is $49.31 and its 200-day moving average is $48.73. The company has a market cap of $27.643 billion and a P/E ratio of 18.48.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Reynolds American from $61.00 to $65.34 in a research note to investors on Thursday, October 3rd. They now have an “overweight” rating on the stock. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Reynolds American in a research note to investors on Friday, September 13th. They now have a $50.00 price target on the stock. Finally, analysts at Credit Agricole raised their price target on shares of Reynolds American from $43.00 to $48.00 in a research note to investors on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Reynolds American presently has a consensus rating of “Buy” and an average price target of $50.89.
In other Reynolds American news, major shareholder & Williamson Holdings Brown sold 127,278 shares of Reynolds American stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $49.54, for a total value of $6,305,352.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Reynolds American Inc (NYSE:RAI) is a holding company.
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