Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives Average Recommendation of “Hold” from Brokerages

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $30.00.

Several research analysts recently issued reports on the company. TheStreet raised Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Stifel Nicolaus reissued a “hold” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Barclays increased their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Canaccord Genuity Group increased their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, May 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th.

Reynolds Consumer Products Trading Down 2.8 %

REYN opened at $27.70 on Friday. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 17.64 and a beta of 0.48. The stock’s 50 day moving average price is $28.56 and its 200-day moving average price is $27.90. Reynolds Consumer Products has a one year low of $24.80 and a one year high of $30.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $814.92 million. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. On average, equities analysts forecast that Reynolds Consumer Products will post 1.67 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.32%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 58.60%.

Institutional Trading of Reynolds Consumer Products

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Reynolds Consumer Products by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,081,988 shares of the company’s stock valued at $373,622,000 after purchasing an additional 190,431 shares during the last quarter. FMR LLC lifted its holdings in shares of Reynolds Consumer Products by 7.4% during the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock valued at $165,432,000 after purchasing an additional 442,654 shares during the last quarter. Vanguard Group Inc. raised its stake in Reynolds Consumer Products by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after acquiring an additional 29,838 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Reynolds Consumer Products by 23.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after acquiring an additional 218,864 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Reynolds Consumer Products by 4.6% in the 4th quarter. TD Asset Management Inc now owns 560,200 shares of the company’s stock worth $15,036,000 after acquiring an additional 24,800 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

About Reynolds Consumer Products

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.