Reynolds Consumer Products (NASDAQ:REYN) Updates FY24 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.62-1.70 for the period, compared to the consensus estimate of $1.62. The company issued revenue guidance of $3.53-3.64 billion, compared to the consensus revenue estimate of $3.60 billion. Reynolds Consumer Products also updated its Q2 guidance to $0.42-0.46 EPS.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Barclays raised their price target on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the company an equal weight rating in a report on Friday, April 12th. Stifel Nicolaus reissued a hold rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Royal Bank of Canada reissued a sector perform rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, TheStreet raised shares of Reynolds Consumer Products from a c+ rating to a b- rating in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Reynolds Consumer Products presently has a consensus rating of Hold and an average price target of $29.80.

Reynolds Consumer Products Trading Up 1.0 %

REYN traded up $0.28 during trading on Wednesday, reaching $28.69. 205,143 shares of the company’s stock were exchanged, compared to its average volume of 572,504. The company’s fifty day moving average price is $28.61 and its 200-day moving average price is $27.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $30.54. The firm has a market capitalization of $6.03 billion, a PE ratio of 20.23 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, equities analysts forecast that Reynolds Consumer Products will post 1.61 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Thursday, May 16th. Reynolds Consumer Products’s dividend payout ratio is presently 64.79%.

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.