Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $30.00 Average PT from Brokerages

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have covered the stock in the last year is $30.00.

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

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN opened at $28.50 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. The firm has a fifty day moving average price of $28.49 and a 200 day moving average price of $28.09. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $30.54. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 18.15 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $814.92 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. Reynolds Consumer Products’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Reynolds Consumer Products will post 1.67 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, May 16th. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

Institutional Investors Weigh In On Reynolds Consumer Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in shares of Reynolds Consumer Products in the first quarter valued at $35,000. Quadrant Capital Group LLC raised its stake in shares of Reynolds Consumer Products by 97.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock valued at $52,000 after acquiring an additional 960 shares during the period. Principal Securities Inc. purchased a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at $61,000. Parallel Advisors LLC raised its stake in shares of Reynolds Consumer Products by 26.9% in the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after acquiring an additional 485 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Reynolds Consumer Products by 467.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock worth $66,000 after buying an additional 2,012 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

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