Reynolds Consumer Products (NASDAQ:REYN) Announces Quarterly Earnings Results

Reynolds Consumer Products (NASDAQ:REYN) released its quarterly earnings results on Wednesday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01, Briefing.com reports. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The business had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $814.92 million. During the same quarter in the previous year, the company earned $0.08 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year.

Reynolds Consumer Products Trading Up 1.8 %

REYN opened at $29.26 on Friday. The stock has a market cap of $6.15 billion, a PE ratio of 20.61 and a beta of 0.48. The business has a 50 day moving average of $28.58 and a 200-day moving average of $27.57. Reynolds Consumer Products has a 52 week low of $24.80 and a 52 week high of $30.54. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 16th. Reynolds Consumer Products’s dividend payout ratio is currently 64.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on REYN shares. TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barclays upped their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Canaccord Genuity Group lifted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.83.

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.