Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $29.52, but opened at $28.00. Reynolds Consumer Products shares last traded at $27.67, with a volume of 36,598 shares traded.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on REYN. 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 price target for the company. JPMorgan Chase & Co. boosted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Royal Bank of Canada increased their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 8th. Canaccord Genuity Group boosted their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a report on Thursday, August 8th. Finally, Barclays raised their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Reynolds Consumer Products has an average rating of "Hold" and a consensus price target of $32.33.
Check Out Our Latest Analysis on REYN
Reynolds Consumer Products Trading Down 6.2 %
The company has a market capitalization of $5.82 billion, a PE ratio of 17.61 and a beta of 0.48. The stock has a fifty day moving average of $30.84 and a two-hundred day moving average of $29.23. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. As a group, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.7 earnings per share for the current fiscal year.
Reynolds Consumer Products Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, November 15th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 58.60%.
Institutional Trading of Reynolds Consumer Products
A number of institutional investors have recently modified their holdings of REYN. GAMMA Investing LLC grew its position in shares of Reynolds Consumer Products by 510.2% in the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company's stock worth $27,000 after buying an additional 801 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Reynolds Consumer Products during the second quarter valued at about $39,000. Abich Financial Wealth Management LLC purchased a new stake in Reynolds Consumer Products in the second quarter worth about $54,000. nVerses Capital LLC purchased a new position in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $90,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Reynolds Consumer Products by 3,009.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,830 shares of the company's stock valued at $91,000 after purchasing an additional 2,739 shares during the period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.
About Reynolds Consumer Products
(
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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