Reynolds Consumer Products (NASDAQ:REYN) Releases Q2 2022 Earnings Guidance

Reynolds Consumer Products (NASDAQ:REYNGet Rating) updated its second quarter 2022 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 $925.38 million-$942.84 million, compared to the consensus revenue estimate of $994.93 million.Reynolds Consumer Products also updated its FY 2022 guidance to $1.56-$1.56 EPS.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Reynolds Consumer Products from a sell rating to a hold rating in a research note on Saturday, May 14th. TheStreet lowered Reynolds Consumer Products from a b- rating to a c rating in a report on Monday, March 7th. The Goldman Sachs Group lowered Reynolds Consumer Products from a buy rating to a sell rating in a report on Tuesday, March 29th. JPMorgan Chase & Co. lowered their price target on Reynolds Consumer Products from $34.00 to $33.00 and set an overweight rating on the stock in a report on Wednesday, March 30th. Finally, Stifel Nicolaus lowered Reynolds Consumer Products from a buy rating to a hold rating and lowered their target price for the stock from $33.00 to $31.00 in a report on Wednesday, April 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Reynolds Consumer Products currently has an average rating of Hold and an average target price of $33.00.

NASDAQ:REYN opened at $27.17 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 2.30 and a debt-to-equity ratio of 1.18. Reynolds Consumer Products has a 1-year low of $25.70 and a 1-year high of $32.29. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 18.87 and a beta of 0.30. The stock has a fifty day simple moving average of $29.19 and a 200 day simple moving average of $29.78.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Reynolds Consumer Products had a return on equity of 18.28% and a net margin of 8.38%. The business had revenue of $845.00 million during the quarter, compared to analyst estimates of $859.65 million. During the same quarter last year, the company posted $0.36 EPS. Reynolds Consumer Products’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Reynolds Consumer Products will post 1.6 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.39%. Reynolds Consumer Products’s payout ratio is presently 63.89%.

A number of hedge funds and other institutional investors have recently made changes to their positions in REYN. BlackRock Inc. boosted its position in Reynolds Consumer Products by 15.0% during the 4th quarter. BlackRock Inc. now owns 2,516,409 shares of the company’s stock worth $79,014,000 after acquiring an additional 327,878 shares during the period. Norges Bank acquired a new stake in Reynolds Consumer Products during the 4th quarter worth about $6,170,000. Dimensional Fund Advisors LP boosted its position in Reynolds Consumer Products by 43.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 354,374 shares of the company’s stock worth $10,394,000 after acquiring an additional 108,130 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Reynolds Consumer Products by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 5,268,469 shares of the company’s stock valued at $154,577,000 after buying an additional 99,178 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Reynolds Consumer Products during the 4th quarter valued at about $2,779,000. Hedge funds and other institutional investors own 27.33% 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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