Reynolds Consumer Products (NASDAQ:REYN) Updates FY24 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.62-1.70 for the period, compared to the consensus estimate of $1.62. The company issued revenue guidance of $3.53-3.64 billion, compared to the consensus revenue estimate of $3.60 billion. Reynolds Consumer Products also updated its Q2 guidance to $0.42-0.46 EPS.

Reynolds Consumer Products Trading Up 1.2 %

Shares of REYN stock traded up $0.34 during trading hours on Wednesday, hitting $28.75. 719,467 shares of the company were exchanged, compared to its average volume of 578,654. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $30.54. The company has a 50 day simple moving average of $28.59 and a two-hundred day simple moving average of $27.56. The firm has a market cap of $6.04 billion, a P/E ratio of 20.25 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The business's revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities analysts anticipate that Reynolds Consumer Products will post 1.61 EPS for the current year.

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 issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.20%. Reynolds Consumer Products's payout ratio is currently 64.79%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a sector perform rating and set a $31.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Barclays lifted their price objective 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. JPMorgan Chase & Co. raised 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 report on Thursday, February 8th. TheStreet raised Reynolds Consumer Products from a c+ rating to a b- rating in a report on Thursday, February 1st. Finally, Stifel Nicolaus restated a hold rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $29.80.

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.