Reynolds Consumer Products (NASDAQ:REYN) Issues FY 2024 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.660-1.700 for the period, compared to the consensus earnings per share estimate of 1.690. The company issued revenue guidance of $3.6 billion-$3.7 billion, compared to the consensus revenue estimate of $3.6 billion. Reynolds Consumer Products also updated its Q4 guidance to $0.56-0.60 EPS.

Reynolds Consumer Products Stock Up 1.0 %

Shares of REYN stock traded up $0.27 during mid-day trading on Friday, hitting $27.22. 1,055,167 shares of the stock traded hands, compared to its average volume of 569,058. The stock has a market cap of $5.72 billion, a P/E ratio of 15.40 and a beta of 0.48. The stock’s fifty day moving average is $30.71 and its two-hundred day moving average is $29.21. Reynolds Consumer Products has a 52-week low of $25.29 and a 52-week high of $32.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.41%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. Equities analysts predict that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, November 15th. Reynolds Consumer Products’s payout ratio is 52.57%.

Analyst Upgrades and Downgrades

REYN has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday. Canaccord Genuity Group upped their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Royal Bank of Canada upped their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.17.

Reynolds Consumer Products Company Profile

Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.