Reynolds Consumer Products (NASDAQ:REYN) Updates Q4 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.56-0.60 for the period, compared to the consensus estimate of $0.58. The company issued revenue guidance of $945-985 million, compared to the consensus revenue estimate of $977.17 million. Reynolds Consumer Products also updated its FY 2024 guidance to 1.660-1.700 EPS.

Reynolds Consumer Products Stock Down 6.2 %

Reynolds Consumer Products stock traded down $1.83 during trading on Wednesday, reaching $27.69. 1,218,897 shares of the company's stock were exchanged, compared to its average volume of 564,796. The company's 50-day moving average is $30.84 and its two-hundred day moving average is $29.23. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products has a 52-week low of $25.08 and a 52-week high of $32.65. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 17.61 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. The firm had revenue of $930.00 million during the quarter, compared to analysts' expectations of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. Reynolds Consumer Products's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. On average, analysts predict that Reynolds Consumer Products will post 1.7 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, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products's dividend payout ratio is currently 58.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped 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. Royal Bank of Canada upped their price target on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 8th. Jefferies Financial Group started 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 raised their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Five equities 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 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.