Reynolds Consumer Products (NASDAQ:REYN) Releases Q1 2024 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN) updated its first quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.210-0.230 for the period, compared to the consensus EPS estimate of 0.220. The company issued revenue guidance of $795.0 million-$820.0 million, compared to the consensus revenue estimate of $813.8 million. Reynolds Consumer Products also updated its FY 2024 guidance to 1.570-1.650 EPS.

Analyst Ratings Changes

Several research analysts recently issued reports on REYN shares. TheStreet raised shares of Reynolds Consumer Products from a c+ rating to a b- rating in a research note on Thursday, February 1st. Stifel Nicolaus reissued a hold rating and set a $30.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. JPMorgan Chase & Co. increased their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Finally, Barclays upped their price target on shares of Reynolds Consumer Products from $25.00 to $27.00 and gave the company an equal weight rating in a research report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $29.29.

Reynolds Consumer Products Stock Down 0.7 %

NASDAQ:REYN opened at $28.56 on Friday. The firm has a market capitalization of $6.00 billion, a P/E ratio of 20.11 and a beta of 0.50. Reynolds Consumer Products has a 1-year low of $24.80 and a 1-year high of $30.54. The company’s fifty day moving average price is $28.46 and its 200-day moving average price is $27.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.53 earnings per share. Reynolds Consumer Products’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that Reynolds Consumer Products will post 1.61 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, February 14th. Reynolds Consumer Products’s payout ratio is 64.79%.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of large investors have recently bought and sold shares of REYN. MetLife Investment Management LLC acquired a new stake in shares of Reynolds Consumer Products during the 1st quarter worth about $32,000. Harbour Investments Inc. grew its position in shares of Reynolds Consumer Products by 737.5% during the fourth quarter. Harbour Investments Inc. now owns 1,675 shares of the company’s stock worth $50,000 after buying an additional 1,475 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Reynolds Consumer Products by 467.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock worth $66,000 after buying an additional 2,012 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Reynolds Consumer Products in the first quarter worth $70,000. Finally, Point72 Middle East FZE acquired a new position in Reynolds Consumer Products in the fourth quarter worth $94,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

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.