Reynolds Consumer Products (NASDAQ:REYN) Releases FY24 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.62-1.70 for the period, compared to the consensus estimate of $1.62. The company issued revenue guidance of $3.53-3.64 billion, compared to the consensus revenue estimate of $3.60 billion. Reynolds Consumer Products also updated its Q2 guidance to $0.42-0.46 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays upped their price objective on Reynolds Consumer Products from $27.00 to $28.00 and gave the company an equal weight rating in a research report on Friday, April 12th. TheStreet upgraded Reynolds Consumer Products from a c+ rating to a b- rating in a report on Thursday, February 1st. Stifel Nicolaus restated a hold rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. JPMorgan Chase & Co. increased their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $31.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $29.80.

Reynolds Consumer Products Stock Up 1.0 %

NASDAQ:REYN traded up $0.28 during mid-day trading on Wednesday, reaching $28.69. The stock had a trading volume of 205,143 shares, compared to its average volume of 572,504. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 20.23 and a beta of 0.48. Reynolds Consumer Products has a 1-year low of $24.80 and a 1-year high of $30.54. The stock’s 50 day simple moving average is $28.61 and its two-hundred day simple moving average is $27.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. Reynolds Consumer Products’s quarterly revenue was down 7.5% compared to the same quarter last year. Equities analysts anticipate that Reynolds Consumer Products will post 1.61 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.23 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. Reynolds Consumer Products’s payout ratio is currently 64.79%.

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.