Reynolds Consumer Products (NASDAQ:REYN) Releases Q2 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.42-0.46 for the period, compared to the consensus estimate of $0.37. The company issued revenue guidance of $875-900 million, compared to the consensus revenue estimate of $890.34 million. Reynolds Consumer Products also updated its FY24 guidance to $1.62-1.70 EPS.

Reynolds Consumer Products Stock Performance

REYN traded up $0.28 on Wednesday, hitting $28.69. 205,143 shares of the stock traded hands, compared to its average volume of 572,504. Reynolds Consumer Products has a 52 week low of $24.80 and a 52 week high of $30.54. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $6.03 billion, a PE ratio of 20.23 and a beta of 0.48. The business has a fifty day moving average price of $28.61 and a two-hundred day moving average price of $27.54.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, research analysts predict that Reynolds Consumer Products will post 1.61 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.21%. Reynolds Consumer Products’s dividend payout ratio is 64.79%.

Analyst Ratings Changes

REYN has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Royal Bank of Canada reaffirmed a sector perform rating and set a $31.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Barclays lifted their price objective 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. Stifel Nicolaus reaffirmed a hold rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, TheStreet raised Reynolds Consumer Products from a c+ rating to a b- rating in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $29.80.

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.