Reynolds Consumer Products (NASDAQ:REYN) Releases Q4 2024 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.560-0.600 for the period, compared to the consensus estimate of 0.580. The company issued revenue guidance of $945.0 million-$985.0 million, compared to the consensus revenue estimate of $977.2 million. Reynolds Consumer Products also updated its FY 2024 guidance to 1.660-1.700 EPS.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays upped their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Jefferies Financial Group initiated coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. Royal Bank of Canada lifted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price 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. Finally, Canaccord Genuity Group lifted their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.33.

Reynolds Consumer Products Stock Down 6.2 %

Reynolds Consumer Products stock traded down $1.83 during midday trading on Wednesday, reaching $27.69. The stock had a trading volume of 1,289,275 shares, compared to its average volume of 565,131. The stock has a market capitalization of $5.82 billion, a P/E ratio of 17.64 and a beta of 0.48. The firm’s fifty day simple moving average is $30.78 and its 200-day simple moving average is $29.22. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products has a 1-year low of $25.08 and a 1-year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, analysts expect that Reynolds Consumer Products will post 1.7 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, November 15th. Reynolds Consumer Products’s payout ratio is 58.60%.

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.