Reynolds Consumer Products (NASDAQ:REYN) Issues FY24 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.65-1.71 for the period, compared to the consensus estimate of $1.67. The company issued revenue guidance of $3.59-3.67 billion, compared to the consensus revenue estimate of $3.61 billion. Reynolds Consumer Products also updated its Q3 guidance to $0.39-0.43 EPS.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on REYN. JPMorgan Chase & Co. lowered their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a neutral rating for the company in a report on Monday, July 22nd. Barclays lowered their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an equal weight rating for the company in a research note on Friday, July 19th. Finally, Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a hold rating in a research note on Thursday, May 9th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Reynolds Consumer Products has an average rating of Hold and an average target price of $29.67.

Reynolds Consumer Products Stock Up 6.9 %

REYN traded up $1.97 during mid-day trading on Wednesday, reaching $30.54. 111,129 shares of the stock were exchanged, compared to its average volume of 528,519. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. The stock has a market capitalization of $6.42 billion, a PE ratio of 18.20 and a beta of 0.47. The company has a 50 day moving average price of $27.82 and a two-hundred day moving average price of $28.28. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $814.92 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. As a group, research analysts anticipate that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 58.60%.

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.