Reynolds Consumer Products (NASDAQ:REYN) Releases Q4 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.56-0.60 for the period, compared to the consensus estimate of $0.58. The company issued revenue guidance of $945-985 million, compared to the consensus revenue estimate of $977.17 million. Reynolds Consumer Products also updated its FY 2024 guidance to 1.660-1.700 EPS.

Reynolds Consumer Products Stock Up 1.0 %

Shares of NASDAQ:REYN traded up $0.27 during midday trading on Friday, hitting $27.22. The stock had a trading volume of 1,055,167 shares, compared to its average volume of 570,133. Reynolds Consumer Products has a 12 month low of $25.29 and a 12 month high of $32.65. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. The business’s 50-day simple moving average is $30.64 and its 200-day simple moving average is $29.20. The company has a market cap of $5.72 billion, a P/E ratio of 15.55 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.41%. The firm had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same period in the prior year, the business posted $0.37 earnings per share. Reynolds Consumer Products’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.23 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.38%. Reynolds Consumer Products’s dividend payout ratio is presently 52.57%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target for the company. Barclays cut their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised 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. Royal Bank of Canada lifted their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group lifted their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.17.

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.