Barclays Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its target price decreased by Barclays from $29.00 to $28.00 in a research report report published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

REYN has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group boosted their target price 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Price Performance

Shares of REYN stock traded up $0.26 on Thursday, hitting $27.21. 244,210 shares of the company’s stock were exchanged, compared to its average volume of 566,308. The company has a 50 day moving average of $30.71 and a 200 day moving average of $29.21. Reynolds Consumer Products has a 12 month low of $25.29 and a 12 month 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. The stock has a market cap of $5.72 billion, a P/E ratio of 15.40 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data 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). The firm had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.41% and a net margin of 10.03%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, equities research analysts predict that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

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

Hedge Funds Weigh In On Reynolds Consumer Products

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in Reynolds Consumer Products by 510.2% in the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after buying an additional 801 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Reynolds Consumer Products during the second quarter valued at approximately $39,000. Abich Financial Wealth Management LLC bought a new stake in shares of Reynolds Consumer Products during the second quarter valued at approximately $54,000. Capital Performance Advisors LLP acquired a new position in shares of Reynolds Consumer Products during the third quarter worth approximately $70,000. Finally, nVerses Capital LLC bought a new position in shares of Reynolds Consumer Products in the 2nd quarter worth $90,000. Institutional investors and hedge funds 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.