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 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01), Briefing.com reports. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis.

Reynolds Consumer Products Stock Up 1.0 %

REYN traded up $0.27 during trading on Friday, hitting $27.22. 1,055,167 shares of the company’s stock traded hands, compared to its average volume of 461,007. Reynolds Consumer Products has a 12-month low of $25.29 and a 12-month high of $32.65. The company’s 50 day simple moving average is $30.64 and its two-hundred day simple moving average is $29.20. The company has a current ratio of 2.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 15.55 and a beta of 0.50.

Reynolds Consumer Products Announces Dividend

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

Analyst Ratings Changes

REYN has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada lifted their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Canaccord Genuity Group boosted their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Finally, Barclays reduced their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.17.

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.