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

Reynolds Consumer Products (NASDAQ:REYN) issued an update on its fourth quarter earnings guidance on Wednesday morning. 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.

Reynolds Consumer Products Stock Up 1.0 %

Shares of Reynolds Consumer Products stock traded up $0.27 on Friday, reaching $27.22. 1,055,167 shares of the company were exchanged, compared to its average volume of 570,133. Reynolds Consumer Products has a 1-year low of $25.29 and a 1-year high of $32.65. The stock’s 50 day moving average price is $30.64 and its 200-day moving average price is $29.20. The company has a market cap of $5.72 billion, a P/E ratio of 15.55 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data 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 firm had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same period in the previous year, the business posted $0.37 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

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

Analysts Set New Price Targets

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

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.