Reynolds Consumer Products (NASDAQ:REYN) Posts Earnings Results, Misses Expectations By $0.01 EPS

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.41 earnings per share 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 analyst estimates of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The company's revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share.

Reynolds Consumer Products Trading Down 2.7 %

Shares of REYN stock traded down $0.74 during trading hours on Thursday, reaching $26.95. 1,096,972 shares of the stock traded hands, compared to its average volume of 567,834. Reynolds Consumer Products has a 1-year low of $25.08 and a 1-year high of $32.65. The business has a fifty 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. The firm has a market capitalization of $5.66 billion, a PE ratio of 17.37 and a beta of 0.48.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.41%. Reynolds Consumer Products's dividend payout ratio is currently 58.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on REYN shares. JPMorgan Chase & Co. upped their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a "buy" rating and a $38.00 target price for the company. Canaccord Genuity Group increased their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a research note on Thursday, August 8th. Barclays cut their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Royal Bank of Canada increased their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $32.17.

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.