Reynolds American (RAI) Releases Earnings Results, Misses Expectations By $-0.03 EPS

Reynolds American (RAI) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. RAI reported $0.61 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $0.64. The company posted revenue of $3205.00 million in the period, compared to analysts expectations of $3307.98 million. RAI’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Reynolds American. Jefferies Initiated Reynolds American on Sep 21, 2016 to “Buy”, Price Target of the shares are set at $61.Citigroup Initiated Reynolds American on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $57.Reynolds American was Downgraded by Goldman to ” Neutral” on Sep 12, 2016.

Reynolds American closed down -0.17 points or -0.36% at $47.27 with 60,43,931 shares getting traded on Friday. Post opening the session at $47.35, the shares hit an intraday low of $47.175 and an intraday high of $47.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 9, 2016, Susan M. Cameron (President and CEO) sold 105,766 shares at $49.88 per share price. According to the SEC, on May 9, 2016, Thomas C Wajnert (director) sold 5,000 shares at $49.82 per share price. On Mar 15, 2016, Nancy H. Hawley (EVP – Operations of RJRT) sold 6,817 shares at $51.59 per share price, according to the Form-4 filing with the securities and exchange commission.

Reynolds American Inc. (RAI) is a holding company. The Company operates through three segments: RJR Tobacco American Snuff and Santa Fe. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The American Snuff segment consists of the primary operations of American Snuff Co. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company Inc. (SFNTC). The Company’s wholly owned subsidiaries include R. J. Reynolds Tobacco Company American Snuff Company LLC (American Snuff Co.) Lorillard Inc. Santa Fe Natural Tobacco Company Inc. (SFNTC) R. J. Reynolds Vapor Company (RJR Vapor) Niconovum USA Inc. and Niconovum AB.

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