Reynolds American Inc. (RAI) Scheduled to Post Earnings on Wednesday
Reynolds American Inc. (NYSE:RAI) is set to post its quarterly earnings results before the market opens on Wednesday, October 19th. Analysts expect Reynolds American to post earnings of $0.65 per share for the quarter. Reynolds American has set its FY16 guidance at $2.26-2.34 EPS.
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 Thomson Reuters’ consensus estimate of $0.61 by $0.03. Reynolds American had a return on equity of 15.24% and a net margin of 42.97%. The company earned $3.20 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business earned $1.02 earnings per share. Reynolds American’s quarterly revenue was up 33.0% on a year-over-year basis. On average, analysts expect Reynolds American to post $2.32 EPS for the current fiscal year and $2.59 EPS for the next fiscal year.
Shares of Reynolds American Inc. (NYSE:RAI) opened at 47.25 on Tuesday. The firm has a 50-day moving average price of $47.99 and a 200 day moving average price of $49.94. The firm has a market capitalization of $67.44 billion, a price-to-earnings ratio of 12.75 and a beta of 0.40. Reynolds American Inc. has a 12 month low of $44.06 and a 12 month high of $54.48.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.89%. This is an increase from Reynolds American’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, September 8th. Reynolds American’s dividend payout ratio (DPR) is presently 49.73%.
In related news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $48.03, for a total value of $31,718,291.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. State of Wisconsin Investment Board increased its position in shares of Reynolds American by 42.7% in the second quarter. State of Wisconsin Investment Board now owns 535,476 shares of the company’s stock valued at $28,878,000 after buying an additional 160,144 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Reynolds American by 10.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,803 shares of the company’s stock valued at $9,265,000 after buying an additional 16,180 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of Reynolds American during the second quarter valued at about $258,000. Sei Investments Co. increased its position in shares of Reynolds American by 4.2% in the second quarter. Sei Investments Co. now owns 264,768 shares of the company’s stock valued at $14,280,000 after buying an additional 10,748 shares during the last quarter. Finally, ARGI Investment Services LLC increased its position in shares of Reynolds American by 21.3% in the second quarter. ARGI Investment Services LLC now owns 11,649 shares of the company’s stock valued at $616,000 after buying an additional 2,047 shares during the last quarter. Hedge funds and other institutional investors own 46.87% of the company’s stock.
A number of research analysts recently weighed in on the company. Vetr raised Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price objective on the stock in a research note on Thursday, September 8th. Zacks Investment Research lowered Reynolds American from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $57.00 target price (up previously from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Jefferies Group began coverage on Reynolds American in a report on Wednesday, September 21st. They issued a “buy” rating and a $61.00 target price on the stock. Finally, Credit Agricole SA raised Reynolds American from an “underperform” rating to an “outperform” rating and raised their target price for the company from $52.00 to $54.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $55.93.
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).
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