Reynolds Consumer Products (NASDAQ:REYN) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Reynolds Consumer Products (NASDAQ:REYN) posted its quarterly earnings results on Wednesday. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01), Briefing.com reports. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis.

Reynolds Consumer Products Price Performance

Shares of REYN traded down $0.42 during trading hours on Thursday, hitting $27.27. 156,850 shares of the company were exchanged, compared to its average volume of 563,195. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. Reynolds Consumer Products has a fifty-two week low of $25.08 and a fifty-two week high of $32.65. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 17.27 and a beta of 0.48. The firm’s fifty day moving average is $30.78 and its 200 day moving average is $29.22.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.37%. Reynolds Consumer Products’s payout ratio is 58.60%.

Wall Street Analyst Weigh In

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

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.