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

Reynolds Consumer Products (NASDAQ:REYN) announced its quarterly earnings results on Wednesday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01, Briefing.com reports. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The business had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $814.92 million. During the same quarter last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded up $0.51 during trading on Thursday, hitting $29.26. 681,568 shares of the stock traded hands, compared to its average volume of 579,634. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 20.61 and a beta of 0.48. The firm’s fifty day moving average is $28.58 and its 200-day moving average is $27.57. Reynolds Consumer Products has a 52 week low of $24.80 and a 52 week high of $30.54. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 64.79%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. TheStreet raised Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Canaccord Genuity Group upped their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday. JPMorgan Chase & Co. upped 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 note on Thursday, February 8th. Finally, Barclays boosted their target price on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.83.

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.