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

Reynolds Consumer Products (NASDAQ:REYNGet Free Report) issued an update on its first quarter 2024 earnings guidance on Thursday morning. 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.

Reynolds Consumer Products Price Performance

NASDAQ:REYN opened at $28.56 on Friday. The stock has a market cap of $6.00 billion, a PE ratio of 20.11 and a beta of 0.50. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92. The business’s 50-day simple moving average is $28.49 and its two-hundred day simple moving average is $27.03. Reynolds Consumer Products has a 52 week low of $24.80 and a 52 week high of $30.54.

Reynolds Consumer Products (NASDAQ:REYNGet Free Report) last issued its 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 during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. Reynolds Consumer Products’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, analysts forecast that Reynolds Consumer Products will post 1.61 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on REYN. JPMorgan Chase & Co. lifted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Stifel Nicolaus reiterated a hold rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Royal Bank of Canada restated a sector perform rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. TheStreet raised shares of Reynolds Consumer Products from a c+ rating to a b- rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price objective on shares of Reynolds Consumer Products from $25.00 to $27.00 and gave the stock an equal weight rating in a research note on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $29.50.

Check Out Our Latest Analysis on Reynolds Consumer Products

Hedge Funds Weigh In On Reynolds Consumer Products

A number of large investors have recently added to or reduced their stakes in REYN. MetLife Investment Management LLC bought a new position in Reynolds Consumer Products in the first quarter worth about $32,000. Harbour Investments Inc. grew its stake 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 acquiring an additional 1,475 shares during the last quarter. International Assets Investment Management LLC grew its stake 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 acquiring an additional 2,012 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Reynolds Consumer Products during the first quarter worth about $70,000. Finally, Point72 Middle East FZE purchased a new stake in shares of Reynolds Consumer Products during the fourth quarter worth about $94,000. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Company Profile

(Get Free Report)

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.

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