Reynolds American Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:RAI)
Reynolds American (NYSE:RAI) has earned a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, American Banking News reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $57.82.
A number of research firms have recently commented on RAI. Analysts at Bank of America upgraded shares of Reynolds American from a “neutral” rating to a “buy” rating in a research note on Wednesday. They now have a $65.00 price target on the stock, up previously from $63.00. Separately, 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. Finally, 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.
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 shares were sold at an average price of $45.12, for a total transaction of $3,272,192.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Reynolds American (NYSE:RAI) traded up 1.00% during mid-day trading on Wednesday, hitting $59.855. 386,438 shares of the company’s stock traded hands. Reynolds American has a 1-year low of $46.05 and a 1-year high of $60.42. The stock’s 50-day moving average is $57.35 and its 200-day moving average is $52.47. The company has a market cap of $32.084 billion and a P/E ratio of 20.47.
Reynolds American (NYSE:RAI) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that Reynolds American will post $3.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Friday, June 6th.
Reynolds American Inc (NYSE:RAI) is a holding company.
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