Reynolds Consumer Products (NASDAQ:REYN) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Reynolds Consumer Products (NASDAQ:REYN) released its quarterly earnings data on Wednesday. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01), Briefing.com reports. 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 9.74% and a return on equity of 18.27%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.37 earnings per share.

Reynolds Consumer Products Trading Down 1.5 %

Shares of NASDAQ REYN traded down $0.42 during midday trading on Thursday, reaching $27.27. The stock had a trading volume of 156,850 shares, compared to its average volume of 563,195. The company’s 50 day moving average price is $30.78 and its 200 day moving average price is $29.22. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products has a twelve month low of $25.08 and a twelve month high of $32.65. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 17.27 and a beta of 0.48.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s payout ratio is presently 58.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on REYN shares. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target on the stock. Canaccord Genuity Group raised their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Barclays upped their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Royal Bank of Canada raised their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.33.

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.