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

Reynolds Consumer Products (NASDAQ:REYN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.660-1.700 for the period, compared to the consensus EPS estimate of 1.690. The company issued revenue guidance of $3.6 billion-$3.7 billion, compared to the consensus revenue estimate of $3.6 billion. Reynolds Consumer Products also updated its Q4 guidance to $0.56-0.60 EPS.

Reynolds Consumer Products Trading Up 1.0 %

NASDAQ:REYN traded up $0.28 during trading hours on Friday, hitting $27.23. The company had a trading volume of 827,268 shares, compared to its average volume of 569,058. Reynolds Consumer Products has a 1 year low of $25.29 and a 1 year high of $32.65. The company has a market cap of $5.72 billion, a P/E ratio of 15.40 and a beta of 0.48. The company has a 50-day moving average of $30.71 and a 200 day moving average of $29.21. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.41%. The firm had revenue of $910.00 million during the quarter, compared to analysts’ expectations of $902.88 million. During the same period in the prior year, the company posted $0.37 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.38%. Reynolds Consumer Products’s dividend payout ratio is currently 52.57%.

Wall Street Analyst Weigh In

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

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.