Reynolds Consumer Products (NASDAQ:REYN) Issues Q4 2024 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.560-0.600 for the period, compared to the consensus earnings per share estimate of 0.580. The company issued revenue guidance of $945.0 million-$985.0 million, compared to the consensus revenue estimate of $977.2 million. Reynolds Consumer Products also updated its FY 2024 guidance to 1.660-1.700 EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on REYN. Barclays cut their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Canaccord Genuity Group raised their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada boosted their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research 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 company. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $32.17.

Reynolds Consumer Products Stock Up 1.0 %

Shares of Reynolds Consumer Products stock traded up $0.28 during midday trading on Friday, hitting $27.23. The company’s stock had a trading volume of 827,268 shares, compared to its average volume of 569,058. The firm has a market capitalization of $5.72 billion, a P/E ratio of 15.40 and a beta of 0.48. Reynolds Consumer Products has a 1-year low of $25.29 and a 1-year 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 stock has a 50-day simple moving average of $30.71 and a 200-day simple moving average of $29.21.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million during the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.41%. Reynolds Consumer Products’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. As a group, sell-side analysts expect that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 52.57%.

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.