Analysts forecast that Reynolds Consumer Products Inc. (NASDAQ:REYN) will report sales of $876.05 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Reynolds Consumer Products’ earnings, with estimates ranging from $873.50 million to $878.14 million. Reynolds Consumer Products posted sales of $835.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The firm is scheduled to report its next earnings report on Tuesday, March 9th.
On average, analysts expect that Reynolds Consumer Products will report full year sales of $3.25 billion for the current fiscal year. For the next fiscal year, analysts expect that the firm will report sales of $3.26 billion, with estimates ranging from $3.21 billion to $3.28 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Reynolds Consumer Products.
Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Monday, November 16th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $796.96 million. Reynolds Consumer Products’s revenue was up 16.7% compared to the same quarter last year.
Several research analysts have commented on the stock. BidaskClub downgraded shares of Reynolds Consumer Products from a “hold” rating to a “sell” rating in a research note on Friday, October 23rd. ValuEngine downgraded shares of Reynolds Consumer Products from a “hold” rating to a “sell” rating in a research note on Tuesday, November 10th. Smith Barney Citigroup decreased their target price on shares of Reynolds Consumer Products from $41.00 to $35.00 in a research note on Thursday, November 12th. Zacks Investment Research raised shares of Reynolds Consumer Products from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Saturday, November 14th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell decreased their target price on shares of Reynolds Consumer Products from $41.00 to $35.00 in a research note on Thursday, November 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Reynolds Consumer Products currently has an average rating of “Buy” and an average price target of $36.00.
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REYN stock opened at $30.06 on Tuesday. The company has a market capitalization of $6.30 billion and a PE ratio of 20.73. Reynolds Consumer Products has a one year low of $21.61 and a one year high of $36.00. The company’s 50 day moving average price is $29.99 and its two-hundred day moving average price is $32.18. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.82 and a current ratio of 2.81.
The business also recently declared a quarterly dividend, which was paid on Monday, November 30th. Investors of record on Monday, November 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, November 13th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 60.69%.
In related news, CEO V Lance Mitchell purchased 16,500 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The shares were acquired at an average price of $29.86 per share, for a total transaction of $492,690.00. Following the completion of the acquisition, the chief executive officer now directly owns 16,500 shares in the company, valued at approximately $492,690. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael E. Graham bought 2,600 shares of the company’s stock in a transaction dated Thursday, November 19th. The shares were acquired at an average price of $29.37 per share, for a total transaction of $76,362.00. Following the acquisition, the chief financial officer now owns 2,600 shares in the company, valued at approximately $76,362. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 29,100 shares of company stock worth $866,942.
Several hedge funds have recently made changes to their positions in the company. Arden Trust Co boosted its holdings in shares of Reynolds Consumer Products by 2.3% during the 3rd quarter. Arden Trust Co now owns 32,448 shares of the company’s stock valued at $994,000 after buying an additional 728 shares in the last quarter. Fulton Bank N. A. boosted its holdings in shares of Reynolds Consumer Products by 9.6% during the 3rd quarter. Fulton Bank N. A. now owns 9,132 shares of the company’s stock valued at $280,000 after buying an additional 798 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Reynolds Consumer Products by 76.0% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,423 shares of the company’s stock valued at $84,000 after buying an additional 1,046 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Reynolds Consumer Products by 5.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,374 shares of the company’s stock valued at $593,000 after buying an additional 1,060 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Reynolds Consumer Products by 5.0% during the 3rd quarter. Raymond James & Associates now owns 27,660 shares of the company’s stock valued at $847,000 after buying an additional 1,325 shares in the last quarter. Hedge funds and other institutional investors own 26.16% 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 foil, disposable aluminum pans, parchment paper, freezer paper, wax 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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20 Stocks Analysts Can’t Stop Upgrading
As you know, a single upgrade from a broker probably won’t be a major game-changer for any single stock. But, what if there was a stock that had been upgraded by more than 10 different brokers during the last 90 days?
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