Reynolds American Hits New 1-Year High at $60.28 (RAI)
Reynolds American (NYSE:RAI) reached a new 52-week high on Thursday , American Banking News reports. The stock traded as high as $60.28 and last traded at $60.11, with a volume of 1,337,348 shares traded. The stock had previously closed at $59.36.
A number of research firms have recently commented on RAI. Analysts at Zacks reiterated a “neutral” rating on shares of Reynolds American in a research note on Thursday, April 24th. They now have a $56.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Reynolds American in a research note on Tuesday, April 8th. They set a “buy” rating and a $66.00 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Reynolds American from $58.00 to $66.00 in a research note on Monday, March 10th. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $56.92.
The stock has a 50-day moving average of $56.88 and a 200-day moving average of $52.21. The company has a market cap of $32.285 billion and a price-to-earnings ratio of 20.50.
Reynolds American (NYSE:RAI) last released its earnings data on Wednesday, April 23rd. The company reported $0.72 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.74 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company posted $0.72 earnings per share. Reynolds American’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that Reynolds American will post $3.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, June 6th.
In other Reynolds American news, major shareholder & Williamson Holdings I. Brown sold 72,522 shares of the company’s stock on the open market in a transaction dated Thursday, May 29th. The stock was sold at an average price of $45.12, for a total value of $3,272,192.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Reynolds American Inc (NYSE:RAI) is a holding company.
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