Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.69.

A number of analysts recently issued reports on REYN shares. JPMorgan Chase & Co. decreased their price objective on shares of Reynolds Consumer Products from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 12th. Stifel Nicolaus lowered their price target on shares of Reynolds Consumer Products from $30.00 to $27.50 and set a “hold” rating on the stock in a report on Monday, October 16th. The Goldman Sachs Group upgraded Reynolds Consumer Products from a “sell” rating to a “neutral” rating and upped their price objective for the company from $28.00 to $30.00 in a research note on Monday, October 2nd. Finally, Barclays decreased their target price on Reynolds Consumer Products from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, October 12th.

Reynolds Consumer Products Stock Performance

REYN stock opened at $25.68 on Monday. The company has a quick ratio of 1.14, a current ratio of 2.46 and a debt-to-equity ratio of 1.11. The firm has a market cap of $5.39 billion, a PE ratio of 22.53 and a beta of 0.48. The business has a 50 day moving average of $25.85 and a 200-day moving average of $27.17. Reynolds Consumer Products has a 12-month low of $24.80 and a 12-month high of $32.50.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $940.00 million for the quarter, compared to analysts’ expectations of $937.42 million. Reynolds Consumer Products had a return on equity of 13.28% and a net margin of 6.18%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, sell-side analysts expect that Reynolds Consumer Products will post 1.36 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.58%. Reynolds Consumer Products’s dividend payout ratio is currently 80.70%.

Institutional Trading of Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently made changes to their positions in REYN. CWM LLC grew its holdings in Reynolds Consumer Products by 60.2% during the 2nd quarter. CWM LLC now owns 979 shares of the company’s stock valued at $28,000 after buying an additional 368 shares in the last quarter. Simplicity Solutions LLC grew its stake in Reynolds Consumer Products by 1.6% during the second quarter. Simplicity Solutions LLC now owns 23,633 shares of the company’s stock valued at $668,000 after acquiring an additional 371 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Reynolds Consumer Products by 1.6% during the 2nd quarter. Bleakley Financial Group LLC now owns 23,633 shares of the company’s stock worth $668,000 after acquiring an additional 371 shares during the period. Wellington Management Group LLP lifted its stake in Reynolds Consumer Products by 0.5% in the 1st quarter. Wellington Management Group LLP now owns 72,987 shares of the company’s stock worth $2,141,000 after purchasing an additional 374 shares in the last quarter. Finally, Ariel Investments LLC boosted its holdings in Reynolds Consumer Products by 8.3% in the 2nd quarter. Ariel Investments LLC now owns 5,584 shares of the company’s stock valued at $158,000 after purchasing an additional 427 shares during the period. 27.01% of the stock is currently owned by institutional investors.

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 E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.