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

Reynolds Consumer Products (NASDAQ:REYNGet Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.23-$0.27 for the period, compared to the consensus earnings per share 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.

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of 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 research note on Wednesday, April 13th. Zacks Investment Research raised shares of Reynolds Consumer Products from a sell rating to a hold rating in a research note on Saturday, May 14th. The Goldman Sachs Group downgraded shares of Reynolds Consumer Products from a buy rating to a sell rating in a research note on Tuesday, March 29th. Citigroup decreased their price target on shares of Reynolds Consumer Products from $35.00 to $31.00 in a research note on Thursday, February 10th. Finally, TheStreet downgraded shares of Reynolds Consumer Products from a b- rating to a c rating in a research note on Monday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $33.00.

Shares of REYN traded down $0.76 during trading hours on Thursday, reaching $26.77. 2,146 shares of the company traded hands, compared to its average volume of 412,731. The stock has a market capitalization of $5.62 billion, a P/E ratio of 19.12 and a beta of 0.30. 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 12-month low of $26.50 and a 12-month high of $32.29. The business has a fifty day moving average price of $29.30 and a 200-day moving average price of $29.78.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $845.00 million for the quarter, compared to analyst estimates of $859.65 million. Reynolds Consumer Products had a net margin of 8.38% and a return on equity of 18.28%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, research analysts predict that Reynolds Consumer Products will post 1.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors 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 3.44%. Reynolds Consumer Products’s dividend payout ratio is presently 63.89%.

A number of hedge funds and other institutional investors have recently bought and sold shares of REYN. BlackRock Inc. raised its position 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 worth $79,014,000 after acquiring an additional 327,878 shares during the period. Norges Bank acquired a new position in shares of Reynolds Consumer Products in the fourth quarter worth about $6,170,000. Dimensional Fund Advisors LP raised its position in shares of Reynolds Consumer Products by 43.9% in the first 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. raised its position in shares of Reynolds Consumer Products by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,268,469 shares of the company’s stock worth $154,577,000 after acquiring an additional 99,178 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Reynolds Consumer Products in the fourth quarter worth about $2,779,000. Institutional investors own 27.33% of the company’s stock.

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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Earnings History and Estimates for Reynolds Consumer Products (NASDAQ:REYN)

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