Reynolds Consumer Products (NASDAQ:REYN) Issues Earnings Results, Beats Estimates By $0.01 EPS

Reynolds Consumer Products (NASDAQ:REYN) issued its earnings results on Wednesday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01, Briefing.com reports. The company had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $814.92 million. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock traded up $0.51 during mid-day trading on Thursday, reaching $29.26. 681,571 shares of the company’s stock traded hands, compared to its average volume of 579,797. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 20.61 and a beta of 0.48. The stock has a 50 day moving average of $28.58 and a two-hundred day moving average of $27.57. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a 12-month low of $24.80 and a 12-month high of $30.54.

Reynolds Consumer Products Announces Dividend

The firm 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. This represents a $0.92 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 16th. Reynolds Consumer Products’s payout ratio is 64.79%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on REYN. TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their target price on shares of 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 reissued a “sector perform” rating and set a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, Barclays lifted their target price on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.83.

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.