Reynolds Consumer Products (NASDAQ:REYN) Releases Earnings Results, Beats Estimates By $0.01 EPS

Reynolds Consumer Products (NASDAQ:REYN) issued its quarterly earnings results on Wednesday. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01, Briefing.com reports. The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $814.92 million. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN opened at $29.26 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a twelve month low of $24.80 and a twelve month high of $30.54. The company’s 50 day moving average is $28.58 and its 200 day moving average is $27.57. The company has a market cap of $6.15 billion, a PE ratio of 20.61 and a beta of 0.48.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 dividend yield of 3.14%. The ex-dividend date is Thursday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 64.79%.

Analyst Ratings Changes

REYN has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Stifel Nicolaus restated a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. TheStreet upgraded shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Barclays boosted their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and an average price target of $29.83.

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.