Reynolds Consumer Products (NASDAQ:REYN) Updates FY 2024 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.620-1.700 for the period, compared to the consensus earnings per share estimate of 1.620. The company issued revenue guidance of $3.5 billion-$3.6 billion, compared to the consensus revenue estimate of $3.6 billion.

Reynolds Consumer Products Stock Down 0.4 %

NASDAQ REYN traded down $0.12 during trading on Friday, hitting $28.91. 311,370 shares of the company traded hands, compared to its average volume of 567,472. Reynolds Consumer Products has a 12 month low of $24.80 and a 12 month high of $30.54. The business has a fifty day simple moving average of $28.57 and a 200 day simple moving average of $27.72. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $6.08 billion, a P/E ratio of 18.47 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $814.92 million. During the same period last year, the company earned $0.08 earnings per share. The business's revenue was down 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Reynolds Consumer Products will post 1.67 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.18%. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 58.60%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on REYN shares. TheStreet upgraded Reynolds Consumer Products from a c+ rating to a b- rating in a research note on Thursday, February 1st. Canaccord Genuity Group lifted their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a hold rating in a research note on Thursday, May 9th. Royal Bank of Canada reiterated a sector perform rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Finally, Barclays boosted their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Reynolds Consumer Products has an average rating of Hold and a consensus target price of $30.00.

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.