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

Reynolds Consumer Products (NASDAQ:REYN) issued an update on its fourth quarter earnings guidance on Wednesday morning. 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 Price Performance

Shares of NASDAQ:REYN traded down $1.88 during midday trading on Wednesday, hitting $27.64. The stock had a trading volume of 47,025 shares, compared to its average volume of 559,215. The company’s 50-day moving average price is $30.84 and its 200-day moving average price is $29.23. The company has a market capitalization of $5.81 billion, a P/E ratio of 18.80 and a beta of 0.48. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. Reynolds Consumer Products has a fifty-two week low of $25.08 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities research analysts predict that Reynolds Consumer Products will post 1.7 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is 58.60%.

Analyst Upgrades and Downgrades

REYN has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Barclays increased their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Royal Bank of Canada increased their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.33.

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.