Todays Report: Today, FY2016 Earnings Forecast for Reynolds American Inc. Issued By Credit Agricole SA (RAI)

Today, FY2016 Earnings Forecast for Reynolds American Inc. Issued By Credit Agricole SA (RAI)

Reynolds American Inc. (NYSE:RAI) – Research analysts at Credit Agricole SA reduced their FY2016 EPS estimates for Reynolds American in a report issued on Thursday. Credit Agricole SA analyst M. Lavery now anticipates that the brokerage will earn $2.31 per share for the year, down from their prior estimate of $2.33. Credit Agricole SA currently has a “Outperform” rating and a $54.00 target price on the stock.

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. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $1.02 earnings per share. Reynolds American’s revenue was up 33.0% on a year-over-year basis.

Several other analysts have also issued reports on RAI. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $57.00 price target (up from $55.00) on shares of Reynolds American in a research report on Friday, July 15th. Zacks Investment Research lowered shares of Reynolds American from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Cowen and Company reaffirmed an “outperform” rating and set a $57.00 price target on shares of Reynolds American in a research report on Tuesday, August 16th. Morgan Stanley reaffirmed a “hold” rating on shares of Reynolds American in a research report on Thursday, September 1st. Finally, Vetr raised shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price target on the stock in a research report on Thursday, September 8th. 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’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $55.93.

Reynolds American (NYSE:RAI) opened at 47.25 on Monday. The company has a market capitalization of $67.44 billion, a P/E ratio of 12.75 and a beta of 0.40. Reynolds American has a one year low of $44.06 and a one year high of $54.48. The company’s 50-day moving average is $47.99 and its 200 day moving average is $49.94.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.89%. This is an increase from Reynolds American’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, September 8th. Reynolds American’s dividend payout ratio is presently 49.73%.

In other Reynolds American news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $48.03, for a total transaction of $31,718,291.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

A number of large investors have recently made changes to their positions in RAI. AMP Capital Investors Ltd increased its stake in shares of Reynolds American by 9.3% in the first quarter. AMP Capital Investors Ltd now owns 789,202 shares of the company’s stock worth $39,839,000 after buying an additional 67,138 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Reynolds American by 4.4% in the first quarter. Envestnet Asset Management Inc. now owns 552,059 shares of the company’s stock worth $27,774,000 after buying an additional 23,487 shares during the last quarter. Aviance Capital Management LLC increased its stake in shares of Reynolds American by 30.1% in the second quarter. Aviance Capital Management LLC now owns 549,100 shares of the company’s stock worth $29,613,000 after buying an additional 127,031 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Reynolds American by 6.0% in the second quarter. Teacher Retirement System of Texas now owns 83,284 shares of the company’s stock worth $4,492,000 after buying an additional 4,695 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Reynolds American during the first quarter worth about $402,000. Hedge funds and other institutional investors own 46.87% of the company’s stock.

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