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.

Analysts Set New Price Targets

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

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock traded up $0.27 on Friday, reaching $27.22. 1,055,167 shares of the stock were exchanged, compared to its average volume of 570,133. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. Reynolds Consumer Products has a twelve month low of $25.29 and a twelve month high of $32.65. The business has a 50 day moving average price of $30.64 and a two-hundred day moving average price of $29.20. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 15.55 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $902.88 million. During the same period last year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts anticipate that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

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

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.