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

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

Reynolds Consumer Products Stock Performance

REYN stock traded up $0.51 during midday trading on Thursday, reaching $29.26. 681,568 shares of the company’s stock traded hands, compared to its average volume of 579,634. The stock’s 50-day moving average is $28.58 and its 200 day moving average is $27.57. The stock has a market cap of $6.15 billion, a P/E ratio of 20.61 and a beta of 0.48. Reynolds Consumer Products has a 52-week low of $24.80 and a 52-week high of $30.54. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 16th. Reynolds Consumer Products’s payout ratio is 64.79%.

Analyst Ratings Changes

Several brokerages have commented on REYN. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Barclays lifted their target price 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 reaffirmed a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.83.

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.