Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $30.00 Average Price Target from Analysts

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have received an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $29.83.

A number of analysts recently weighed in on REYN shares. Barclays lowered their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday. Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, May 9th.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN opened at $26.80 on Friday. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 17.07 and a beta of 0.47. The firm’s 50-day moving average is $28.08 and its 200-day moving average is $28.21. Reynolds Consumer Products has a 52-week low of $24.80 and a 52-week high of $30.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business 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 8.88% and a return on equity of 17.09%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Equities research analysts anticipate that Reynolds Consumer Products will post 1.67 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.43%. Reynolds Consumer Products’s payout ratio is 58.60%.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of large investors have recently modified their holdings of the stock. Park Avenue Securities LLC lifted its position in shares of Reynolds Consumer Products by 2.8% during the first quarter. Park Avenue Securities LLC now owns 12,959 shares of the company’s stock worth $370,000 after purchasing an additional 359 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in shares of Reynolds Consumer Products by 2.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock worth $462,000 after purchasing an additional 416 shares in the last quarter. Ariel Investments LLC lifted its position in shares of Reynolds Consumer Products by 7.0% during the first quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock worth $204,000 after purchasing an additional 466 shares in the last quarter. Covestor Ltd lifted its position in shares of Reynolds Consumer Products by 15.8% during the first quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after purchasing an additional 480 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Reynolds Consumer Products by 26.9% during the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after purchasing an additional 485 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

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.