Reynolds Consumer Products (NASDAQ:REYN) Issues Q4 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.56-0.60 for the period, compared to the consensus estimate of $0.58. The company issued revenue guidance of $945-985 million, compared to the consensus revenue estimate of $977.17 million. Reynolds Consumer Products also updated its FY 2024 guidance to 1.660-1.700 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on REYN shares. Royal Bank of Canada raised their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Canaccord Genuity Group lifted their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Barclays reduced their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price target 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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Reynolds Consumer Products has an average rating of “Hold” and an average price target of $32.17.

Reynolds Consumer Products Trading Up 1.0 %

Shares of REYN opened at $27.22 on Friday. The stock has a market capitalization of $5.72 billion, a PE ratio of 15.55 and a beta of 0.48. The company’s fifty day moving average is $30.64 and its 200 day moving average is $29.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products has a fifty-two week low of $25.29 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.41% and a net margin of 10.03%. The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts expect that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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

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.