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

Reynolds Consumer Products (NASDAQ:REYN) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Reynolds Consumer Products Stock Performance

REYN opened at $27.22 on Friday. The stock’s 50 day simple moving average is $30.64 and its 200-day simple moving average is $29.20. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The stock has a market cap of $5.72 billion, a PE ratio of 15.55 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 quarterly 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). The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.41%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Sell-side analysts forecast that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.23 dividend. 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 presently 52.57%.

Analyst Upgrades and Downgrades

REYN has been the topic of several analyst reports. Barclays lowered their price objective 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. JPMorgan Chase & Co. upped their price target 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 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. Canaccord Genuity Group upped their target price 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. Finally, Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Reynolds Consumer Products currently has an average 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.