Zacks: Brokerages Anticipate Reynolds Consumer Products Inc. (NASDAQ:REYN) Will Announce Quarterly Sales of $856.52 Million

Brokerages expect that Reynolds Consumer Products Inc. (NASDAQ:REYNGet Rating) will report sales of $856.52 million for the current quarter, according to Zacks. Three analysts have provided estimates for Reynolds Consumer Products’ earnings, with the lowest sales estimate coming in at $844.90 million and the highest estimate coming in at $867.10 million. Reynolds Consumer Products posted sales of $757.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.1%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Reynolds Consumer Products will report full-year sales of $3.91 billion for the current year, with estimates ranging from $3.89 billion to $3.93 billion. For the next financial year, analysts forecast that the business will post sales of $4.00 billion, with estimates ranging from $3.98 billion to $4.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Reynolds Consumer Products.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last announced its quarterly earnings data on Wednesday, February 9th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Reynolds Consumer Products had a return on equity of 19.85% and a net margin of 9.14%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business posted $0.57 EPS.

REYN has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 30th. Stifel Nicolaus lowered Reynolds Consumer Products from a “buy” rating to a “hold” rating and lowered their price objective for the company from $33.00 to $31.00 in a research report on Wednesday. Zacks Investment Research lowered Reynolds Consumer Products from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Citigroup lowered their price target on Reynolds Consumer Products from $35.00 to $31.00 in a research report on Thursday, February 10th. Finally, TheStreet downgraded Reynolds Consumer Products from a “b-” rating to a “c” rating in a report on Monday, March 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Reynolds Consumer Products currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Shares of NASDAQ REYN traded up $0.43 during midday trading on Wednesday, hitting $29.12. 403,958 shares of the company’s stock were exchanged, compared to its average volume of 353,261. Reynolds Consumer Products has a 12-month low of $26.50 and a 12-month high of $32.29. The company has a current ratio of 2.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 18.91 and a beta of 0.34. The business’s fifty day moving average price is $29.40 and its two-hundred day moving average price is $29.53.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 28th. Shareholders of record on Monday, February 14th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Friday, February 11th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 59.74%.

A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in shares of Reynolds Consumer Products by 53.6% in the second quarter. Morgan Stanley now owns 223,208 shares of the company’s stock valued at $6,774,000 after purchasing an additional 77,900 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Reynolds Consumer Products in the third quarter valued at about $374,000. SG Americas Securities LLC increased its holdings in shares of Reynolds Consumer Products by 35.6% in the third quarter. SG Americas Securities LLC now owns 72,073 shares of the company’s stock valued at $1,970,000 after purchasing an additional 18,929 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Reynolds Consumer Products by 49.1% in the third quarter. New York State Common Retirement Fund now owns 81,866 shares of the company’s stock valued at $2,238,000 after purchasing an additional 26,944 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Reynolds Consumer Products by 30.2% in the third quarter. Raymond James & Associates now owns 61,906 shares of the company’s stock valued at $1,693,000 after purchasing an additional 14,349 shares during the period. Institutional investors own 33.43% of the company’s stock.

Reynolds Consumer Products Company Profile (Get Rating)

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 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 E-Z 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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Earnings History and Estimates for Reynolds Consumer Products (NASDAQ:REYN)

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