Reynolds Consumer Products (NASDAQ:REYN) Releases FY22 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYN – Get Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.56-$1.70 for the period, compared to the consensus estimate of $1.63. The company issued revenue guidance of $3.88-$3.98 billion, compared to the consensus revenue estimate of $3.91 billion.Reynolds Consumer Products also updated its FY 2022 guidance to $1.56-$1.56 EPS.

A number of equities analysts have issued reports on the company. Stifel Nicolaus downgraded Reynolds Consumer Products from a buy rating to a hold rating and decreased their price objective for the stock from $33.00 to $31.00 in a report on Wednesday, April 13th. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $34.00 to $33.00 and set an overweight rating for the company in a report on Wednesday, March 30th. Zacks Investment Research upgraded Reynolds Consumer Products from a sell rating to a hold rating in a report on Friday, April 29th. Citigroup reduced their price target on Reynolds Consumer Products from $35.00 to $31.00 in a report on Thursday, February 10th. Finally, The Goldman Sachs Group downgraded Reynolds Consumer Products from a buy rating to a sell rating in a report on Tuesday, March 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of Hold and an average target price of $33.00.

NASDAQ:REYN traded up $0.78 on Tuesday, hitting $29.78. The stock had a trading volume of 10,044 shares, compared to its average volume of 419,532. The stock has a market cap of $6.25 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. The business’s 50-day simple moving average is $29.43 and its two-hundred day simple moving average is $29.75. Reynolds Consumer Products has a 52-week low of $26.50 and a 52-week high of $32.29.

Reynolds Consumer Products (NASDAQ:REYN – Get Rating) last announced its earnings results on Wednesday, February 9th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.57 earnings per share. As a group, equities research analysts anticipate that Reynolds Consumer Products will post 1.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th will be given a $0.23 dividend. The ex-dividend date of this dividend is Monday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.09%. Reynolds Consumer Products’s payout ratio is 59.74%.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Reynolds Consumer Products by 15.0% during the 4th 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. Norges Bank purchased a new position in shares of Reynolds Consumer Products during the 4th quarter valued at about $6,170,000. Renaissance Technologies LLC purchased a new position in shares of Reynolds Consumer Products during the 4th quarter valued at about $2,779,000. Morgan Stanley lifted its position in shares of Reynolds Consumer Products by 39.1% during the 3rd 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, State Street Corp lifted its position in shares of Reynolds Consumer Products by 10.3% during the 4th 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. 27.33% of the stock is currently owned by institutional investors and hedge funds.

About Reynolds Consumer Products (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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