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

Reynolds Consumer Products (NASDAQ:REYN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.660-1.700 for the period, compared to the consensus 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.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Canaccord Genuity Group raised their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed 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 on the stock. Barclays dropped their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada increased their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of “Hold” and a consensus target price of $32.17.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN traded up $0.27 during midday trading on Friday, reaching $27.22. 1,055,167 shares of the company’s stock traded hands, compared to its average volume of 569,058. The company has a fifty day simple moving average of $30.71 and a two-hundred day simple moving average of $29.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. The company has a market cap of $5.72 billion, a P/E ratio of 15.40 and a beta of 0.48. Reynolds Consumer Products has a 1 year low of $25.29 and a 1 year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.41% and a net margin of 10.03%. The business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same period last year, the firm earned $0.37 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts predict that Reynolds Consumer Products will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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

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.