Reynolds American Inc. (RAI) PT Raised to $62.00
Reynolds American Inc. (NYSE:RAI) had its price target upped by Jefferies Group from $61.00 to $62.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s target price would indicate a potential upside of 32.85% from the company’s current price.
RAI has been the subject of several other reports. Zacks Investment Research downgraded Reynolds American from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Morgan Stanley reiterated a “hold” rating on shares of Reynolds American in a report on Thursday, September 1st. Berenberg Bank assumed coverage on Reynolds American in a report on Tuesday, June 14th. They issued a “hold” rating and a $54.00 price target for the company. Cowen and Company reiterated an “outperform” rating and issued a $57.00 price target on shares of Reynolds American in a report on Tuesday, August 16th. Finally, Goldman Sachs Group Inc. downgraded Reynolds American from a “buy” rating to a “neutral” rating and lowered their price target for the company from $56.00 to $53.00 in a report on Monday, September 12th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $55.93.
Shares of Reynolds American (NYSE:RAI) traded down 0.66% during mid-day trading on Tuesday, reaching $46.36. The company’s stock had a trading volume of 2,412,905 shares. Reynolds American has a 52 week low of $44.06 and a 52 week high of $54.48. The firm has a market capitalization of $66.17 billion, a PE ratio of 12.51 and a beta of 0.40. The firm has a 50-day moving average of $48.47 and a 200-day moving average of $50.06.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/reynolds-american-inc-rai-pt-raised-to-62-00.html
Reynolds American (NYSE:RAI) last issued its earnings results on Tuesday, July 26th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.03. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Reynolds American had a return on equity of 15.24% and a net margin of 42.97%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. Equities research analysts forecast that Reynolds American will post $2.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.84 dividend on an annualized basis and a yield of 3.94%. This is a boost from Reynolds American’s previous quarterly dividend of $0.42. Reynolds American’s dividend payout ratio (DPR) is currently 49.73%.
In other Reynolds American news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $48.03, for a total value of $31,718,291.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Reynolds American by 7.2% in the second quarter. First Trust Advisors LP now owns 2,710,702 shares of the company’s stock worth $146,188,000 after buying an additional 181,349 shares in the last quarter. Geode Capital Management LLC boosted its stake in Reynolds American by 1.8% in the first quarter. Geode Capital Management LLC now owns 6,394,044 shares of the company’s stock worth $320,995,000 after buying an additional 114,893 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Reynolds American during the first quarter worth $19,004,000. Cleararc Capital Inc. boosted its stake in Reynolds American by 0.9% in the first quarter. Cleararc Capital Inc. now owns 34,967 shares of the company’s stock worth $1,759,000 after buying an additional 307 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in Reynolds American by 3.2% in the first quarter. Pictet Asset Management Ltd. now owns 709,768 shares of the company’s stock worth $35,794,000 after buying an additional 21,778 shares during the period. 46.92% of the stock is currently owned by hedge funds and other institutional investors.
Reynolds American Company Profile
Reynolds American Inc (RAI) is a holding company. The Company’s segments are RJR Tobacco, Santa Fe and American Snuff. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company, Inc (SFNTC).
Receive News & Ratings for Reynolds American Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reynolds American Inc. and related companies with MarketBeat.com's FREE daily email newsletter.