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

Reynolds Consumer Products (NASDAQ:REYN) posted its earnings results on Wednesday. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $814.92 million. During the same period last year, the firm posted $0.08 EPS. The company’s revenue was down 4.7% on a year-over-year basis.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock traded up $0.51 during midday trading on Thursday, reaching $29.26. The company’s stock had a trading volume of 681,571 shares, compared to its average volume of 579,797. The stock’s 50 day simple moving average is $28.58 and its 200 day simple moving average is $27.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18. The firm has a market capitalization of $6.15 billion, a PE ratio of 20.61 and a beta of 0.48. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $30.54.

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.23 dividend. 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 payout ratio is 64.79%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on REYN. Canaccord Genuity Group increased their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and an average price target of $29.83.

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.