Reynolds Consumer Products (NASDAQ:REYN) Issues Q2 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYNGet Rating) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.23-$0.27 for the period, compared to the consensus estimate of $0.39. The company issued revenue guidance of $925.4-$942.8 million, compared to the consensus revenue estimate of $994.88 million.Reynolds Consumer Products also updated its FY 2022 guidance to $1.56-$1.56 EPS.

Several brokerages have recently issued reports on REYN. The Goldman Sachs Group downgraded Reynolds Consumer Products from a buy rating to a sell rating in a research report on Tuesday, March 29th. Citigroup reduced their price objective on Reynolds Consumer Products from $35.00 to $31.00 in a research report on Thursday, February 10th. JPMorgan Chase & Co. reduced their price objective on Reynolds Consumer Products from $34.00 to $33.00 and set an overweight rating for the company in a research report on Wednesday, March 30th. TheStreet downgraded Reynolds Consumer Products from a b- rating to a c rating in a research report on Monday, March 7th. Finally, Zacks Investment Research upgraded Reynolds Consumer Products from a sell rating to a hold rating in a research report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products has a consensus rating of Hold and a consensus price target of $33.00.

REYN traded up $0.89 during trading on Tuesday, reaching $29.89. The stock had a trading volume of 9,068 shares, compared to its average volume of 419,532. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 18.83 and a beta of 0.30. The company has a quick ratio of 1.08, a current ratio of 2.28 and a debt-to-equity ratio of 1.19. Reynolds Consumer Products has a 1-year low of $26.50 and a 1-year high of $32.29. The stock has a 50 day moving average of $29.43 and a two-hundred day moving average of $29.75.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its earnings results on Wednesday, February 9th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Reynolds Consumer Products had a return on equity of 19.85% and a net margin of 9.14%. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, research analysts forecast that Reynolds Consumer Products will post 1.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th will be issued a $0.23 dividend. The ex-dividend date is Monday, May 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.08%. Reynolds Consumer Products’s dividend payout ratio is currently 59.74%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Reynolds Consumer Products by 15.0% in the fourth quarter. BlackRock Inc. now owns 2,516,409 shares of the company’s stock valued at $79,014,000 after buying an additional 327,878 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Reynolds Consumer Products by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 844,631 shares of the company’s stock valued at $26,521,000 after buying an additional 20,749 shares in the last quarter. State Street Corp increased its holdings in shares of Reynolds Consumer Products by 10.3% in the fourth quarter. State Street Corp now owns 817,014 shares of the company’s stock valued at $25,654,000 after buying an additional 76,519 shares in the last quarter. Morgan Stanley increased its holdings in shares of Reynolds Consumer Products by 39.1% in the third quarter. Morgan Stanley now owns 310,534 shares of the company’s stock valued at $8,490,000 after buying an additional 87,326 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Reynolds Consumer Products by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 273,577 shares of the company’s stock valued at $8,591,000 after purchasing an additional 7,506 shares during the period. 27.33% of the stock is currently owned by institutional investors.

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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