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

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYNGet Free Report) have been given an average rating of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $30.00.

A number of brokerages have recently issued reports on REYN. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Stifel Nicolaus restated a “hold” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Barclays increased their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Finally, Canaccord Genuity Group increased their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, May 9th.

View Our Latest Research Report on Reynolds Consumer Products

Reynolds Consumer Products Stock Up 0.4 %

Shares of NASDAQ:REYN opened at $28.62 on Tuesday. The firm’s 50 day moving average price is $28.50 and its 200 day moving average price is $28.12. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 18.23 and a beta of 0.48. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $30.54. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92.

Reynolds Consumer Products (NASDAQ:REYNGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The firm had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $814.92 million. During the same quarter last year, the company earned $0.08 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Reynolds Consumer Products will post 1.67 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 58.60%.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of Reynolds Consumer Products by 7.4% in the third quarter. FMR LLC now owns 6,454,619 shares of the company’s stock valued at $165,432,000 after buying an additional 442,654 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in Reynolds Consumer Products during the 4th quarter worth about $8,408,000. KLCM Advisors Inc. increased its position in Reynolds Consumer Products by 112.6% during the 4th quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock worth $14,034,000 after purchasing an additional 276,898 shares in the last quarter. Norges Bank purchased a new stake in Reynolds Consumer Products during the 4th quarter worth about $6,924,000. Finally, Dimensional Fund Advisors LP increased its position in Reynolds Consumer Products by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after purchasing an additional 218,864 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

About Reynolds Consumer Products

(Get Free Report

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 EZ 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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Analyst Recommendations for Reynolds Consumer Products (NASDAQ:REYN)

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