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

Reynolds Consumer Products (NASDAQ:REYNGet Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $0.23-$0.27 for the period, compared to the consensus EPS 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 recently commented on REYN shares. JPMorgan Chase & Co. lowered their target price on Reynolds Consumer Products from $34.00 to $33.00 and set an overweight rating on the stock in a research note on Wednesday, March 30th. TheStreet cut Reynolds Consumer Products from a b- rating to a c rating in a research note on Monday, March 7th. Stifel Nicolaus cut 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 research note on Wednesday, April 13th. Zacks Investment Research cut Reynolds Consumer Products from a hold rating to a sell rating in a research note on Thursday, May 26th. Finally, Citigroup lowered their target price on Reynolds Consumer Products from $35.00 to $31.00 in a research note on Thursday, February 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $33.00.

NASDAQ REYN opened at $27.10 on Tuesday. The company has a market cap of $5.69 billion, a PE ratio of 18.82 and a beta of 0.31. Reynolds Consumer Products has a 52 week low of $25.70 and a 52 week high of $32.29. The company has a quick ratio of 0.96, a current ratio of 2.30 and a debt-to-equity ratio of 1.18. The firm’s 50-day simple moving average is $28.74 and its two-hundred day simple moving average is $29.60.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $845.00 million for the quarter, compared to the consensus estimate of $859.65 million. Reynolds Consumer Products had a net margin of 8.38% and a return on equity of 18.28%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, equities research analysts anticipate that Reynolds Consumer Products will post 1.59 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, May 16th. Reynolds Consumer Products’s payout ratio is 63.89%.

Several hedge funds have recently bought and sold shares of REYN. Morgan Stanley increased its position 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 worth $6,774,000 after purchasing an additional 77,900 shares during the last quarter. LPL Financial LLC increased its position in shares of Reynolds Consumer Products by 3.2% in the third quarter. LPL Financial LLC now owns 20,027 shares of the company’s stock worth $548,000 after purchasing an additional 626 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Reynolds Consumer Products by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 273,577 shares of the company’s stock worth $8,591,000 after purchasing an additional 7,506 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Reynolds Consumer Products in the fourth quarter worth approximately $2,779,000. Finally, Geode Capital Management LLC grew its position in Reynolds Consumer Products by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 844,631 shares of the company’s stock valued at $26,521,000 after acquiring an additional 20,749 shares during the last quarter. 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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