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

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have earned an average rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $32.33.

A number of research analysts have commented on REYN shares. JPMorgan Chase & Co. upped their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Canaccord Genuity Group lifted their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Barclays lifted their target price 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 Thursday, August 8th.

Reynolds Consumer Products Price Performance

REYN opened at $29.81 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. Reynolds Consumer Products has a 1 year low of $24.85 and a 1 year high of $32.65. The stock’s 50 day simple moving average is $30.87 and its 200 day simple moving average is $29.22. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 18.99 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. As a group, analysts predict that Reynolds Consumer Products will post 1.7 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.09%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 58.60%.

Institutional Investors Weigh In On Reynolds Consumer Products

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Reynolds Consumer Products by 510.2% in the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after purchasing an additional 801 shares in the last quarter. Versant Capital Management Inc bought a new stake in Reynolds Consumer Products in the second quarter worth $39,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Reynolds Consumer Products in the second quarter worth $54,000. nVerses Capital LLC bought a new position in shares of Reynolds Consumer Products during the second quarter valued at $90,000. Finally, International Assets Investment Management LLC raised its position in shares of Reynolds Consumer Products by 3,009.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,830 shares of the company’s stock worth $91,000 after purchasing an additional 2,739 shares during the last quarter. 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.