Reynolds Consumer Products (NASDAQ:REYN – Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.420-0.460 for the period, compared to the consensus earnings per share estimate of 0.370. The company issued revenue guidance of $875.0 million-$900.0 million, compared to the consensus revenue estimate of $890.4 million. Reynolds Consumer Products also updated its FY24 guidance to $1.62-1.70 EPS.
Reynolds Consumer Products Trading Up 1.1 %
Reynolds Consumer Products stock traded up $0.32 during mid-day trading on Wednesday, hitting $28.73. The company’s stock had a trading volume of 126,709 shares, compared to its average volume of 571,815. The business has a 50 day moving average price of $28.61 and a 200-day moving average price of $27.54. Reynolds Consumer Products has a 12 month low of $24.80 and a 12 month high of $30.54. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 20.01 and a beta of 0.48. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08.
Reynolds Consumer Products (NASDAQ:REYN – Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.53 EPS. Reynolds Consumer Products’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, analysts forecast that Reynolds Consumer Products will post 1.61 EPS for the current year.
Reynolds Consumer Products Announces Dividend
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on REYN. Barclays upped their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the company an equal weight rating in a report on Friday, April 12th. Royal Bank of Canada reiterated a sector perform rating and set a $31.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a neutral rating in a report on Thursday, February 8th. TheStreet upgraded shares of Reynolds Consumer Products from a c+ rating to a b- rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $29.80.
Check Out Our Latest Report on REYN
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.
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