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

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

Reynolds Consumer Products Stock Performance

REYN stock traded down $0.42 during trading on Thursday, hitting $27.27. The company had a trading volume of 246,039 shares, compared to its average volume of 563,618. The firm has a market cap of $5.73 billion, a PE ratio of 17.27 and a beta of 0.48. Reynolds Consumer Products has a 1-year low of $25.08 and a 1-year high of $32.65. The firm has a 50-day moving average price of $30.78 and a 200-day moving average price of $29.22. 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 Announces Dividend

The company 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 58.60%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Canaccord Genuity Group lifted their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lifted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products currently has an average rating of “Hold” and a consensus target price of $32.33.

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.