Reynolds Consumer Products (NASDAQ:REYN) Issues Quarterly Earnings Results

Reynolds Consumer Products (NASDAQ:REYN) released its earnings results on Wednesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01), Briefing.com reports. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis.

Reynolds Consumer Products Stock Down 1.5 %

NASDAQ:REYN traded down $0.42 on Thursday, reaching $27.27. The stock had a trading volume of 246,039 shares, compared to its average volume of 563,618. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $30.78 and a 200 day moving average of $29.22. The stock has a market cap of $5.73 billion, a P/E ratio of 17.27 and a beta of 0.48. Reynolds Consumer Products has a 12-month low of $25.08 and a 12-month high of $32.65.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 yield of 3.37%. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on REYN shares. Canaccord Genuity Group boosted their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Royal Bank of Canada upped their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Barclays upped their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.33.

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.