Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives Consensus Rating of “Hold” from Brokerages

Reynolds Consumer Products Inc. (NASDAQ:REYN) has received a consensus recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $29.80.

A number of brokerages recently weighed in on REYN. JPMorgan Chase & Co. increased their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Royal Bank of Canada reissued a “sector perform” rating and set 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 report on Thursday, February 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, Barclays boosted their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th.

Reynolds Consumer Products Trading Down 0.6 %

REYN opened at $28.46 on Monday. The firm has a 50 day simple moving average of $28.70 and a 200 day simple moving average of $27.42. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $30.54. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 20.04 and a beta of 0.49. 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 issued its earnings results on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Reynolds Consumer Products will post 1.61 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business 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 dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. Reynolds Consumer Products’s payout ratio is 64.79%.

Hedge Funds Weigh In On Reynolds Consumer Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC acquired a new stake in shares of Reynolds Consumer Products in the 1st quarter valued at about $35,000. Quadrant Capital Group LLC grew its holdings in shares of Reynolds Consumer Products by 97.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after buying an additional 960 shares in the last quarter. Principal Securities Inc. acquired a new stake in Reynolds Consumer Products in the 4th quarter valued at approximately $61,000. Parallel Advisors LLC lifted its stake in Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after acquiring an additional 485 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Reynolds Consumer Products by 467.9% during the 4th 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. 26.81% of the stock is owned by institutional investors and hedge funds.

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.