Reynolds American Inc (RAI) Cut to Market Perform at Cowen and Company

Cowen and Company lowered shares of Reynolds American Inc (NYSE:RAI) from an outperform rating to a market perform rating in a research note published on Friday morning. Cowen and Company currently has $60.00 price objective on the stock.

A number of other equities analysts have also commented on RAI. Vetr lowered shares of Reynolds American from a strong-buy rating to a buy rating and set a $57.08 price target on the stock. in a research report on Monday, October 24th. Citigroup Inc. set a $57.00 price target on shares of Reynolds American and gave the company a buy rating in a research report on Thursday, October 20th. Berenberg Bank upgraded shares of Reynolds American from a hold rating to a buy rating and set a $54.00 price target on the stock in a research report on Friday, October 21st. RBC Capital Markets set a $54.00 price target on shares of Reynolds American and gave the company a buy rating in a research report on Monday, January 2nd. Finally, Morgan Stanley reiterated an equal weight rating and set a $52.00 target price on shares of Reynolds American in a research report on Saturday, October 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Reynolds American presently has an average rating of Hold and an average target price of $57.55.

Analyst Recommendations for Reynolds American (NYSE:RAI)

Reynolds American (NYSE:RAI) opened at 60.02 on Friday. The firm has a market cap of $85.58 billion, a price-to-earnings ratio of 14.12 and a beta of 0.42. Reynolds American has a 1-year low of $43.38 and a 1-year high of $60.91. The company’s 50 day moving average is $58.24 and its 200-day moving average is $53.03.

Reynolds American (NYSE:RAI) last posted its earnings results on Thursday, February 9th. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Reynolds American had a net margin of 48.57% and a return on equity of 15.40%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, analysts predict that Reynolds American will post $2.57 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.40%. The ex-dividend date is Wednesday, March 8th. This is an increase from Reynolds American’s previous quarterly dividend of $0.46. Reynolds American’s dividend payout ratio is presently 43.29%.

A number of large investors have recently modified their holdings of RAI. Huntington National Bank increased its stake in shares of Reynolds American by 46.2% in the second quarter. Huntington National Bank now owns 20,522 shares of the company’s stock valued at $1,107,000 after buying an additional 6,488 shares during the last quarter. Spectrum Management Group Inc. increased its stake in shares of Reynolds American by 329.1% in the second quarter. Spectrum Management Group Inc. now owns 7,380 shares of the company’s stock valued at $398,000 after buying an additional 5,660 shares during the last quarter. Cypress Capital Management LLC WY purchased a new stake in shares of Reynolds American during the second quarter valued at approximately $6,745,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Reynolds American during the second quarter valued at approximately $200,000. Finally, GW Henssler & Associates Ltd. increased its stake in shares of Reynolds American by 1.6% in the second quarter. GW Henssler & Associates Ltd. now owns 130,025 shares of the company’s stock valued at $7,012,000 after buying an additional 2,076 shares during the last quarter. 46.09% of the stock is owned by hedge funds and other institutional investors.

About Reynolds American

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).

5 Day Chart for NYSE:RAI

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