Insider Selling: Thomas C. Wajnert Sells 8,000 Shares of Reynolds American Stock (RAI)
Reynolds American (NYSE:RAI) Director Thomas C. Wajnert sold 8,000 shares of Reynolds American stock on the open market in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $57.00, for a total transaction of $456,000.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $399,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on RAI. Analysts at Morgan Stanley upgraded shares of Reynolds American from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, August 5th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Reynolds American in a research note on Thursday, July 31st. They now have a $60.00 price target on the stock. Finally, analysts at RBC Capital upgraded shares of Reynolds American from an “outperform” rating to a “top pick” rating in a research note on Monday, July 28th. They now have a $72.00 price target on the stock. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.04.
Shares of Reynolds American (NYSE:RAI) traded up 0.61% during mid-day trading on Monday, hitting $57.42. The stock had a trading volume of 1,636,957 shares. Reynolds American has a 52-week low of $46.55 and a 52-week high of $63.39. The stock has a 50-day moving average of $59.14 and a 200-day moving average of $55.31. The company has a market cap of $30.506 billion and a P/E ratio of 19.20.
Reynolds American (NYSE:RAI) last announced its earnings results on Tuesday, July 29th. The company reported $0.89 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company posted $0.84 earnings per share. Reynolds American’s revenue was down .8% compared to the same quarter last year. Analysts expect that Reynolds American will post $3.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Monday, September 8th.
Reynolds American Inc (NYSE:RAI) is a holding company.
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