Reynolds Consumer Products (NASDAQ:REYN – Free Report) The price target was raised by Royal Bank of Canada from $31.00 to $32.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a sector perform rating on the stock.
A number of other brokerage firms have also issued reports on REYN. Barclays raised their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an Equal Weight rating in a research note on Thursday. Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a Hold rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a Neutral rating in a report on Thursday. Six analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $31.00.
Get our latest report on Reynolds Consumer Products
Reynolds Consumer Products is up 0.3%
REYN shares opened at $30.14 on Thursday. The company has a market cap of $6.33 billion, a P/E ratio of 19.20 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average is $27.96 and its 200-day moving average is $28.34. Reynolds Consumer Products has a twelve-month low of $24.80 and a twelve-month high of $31.01.
Reynolds Consumer Products (NASDAQ:REYN – Free Report) last released its quarterly earnings results on Wednesday, August 7. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. Reynolds Consumer Products’ quarterly revenue decreased 1.1% year-over-year. During the same period last year, the company reported earnings per share of $0.32. Equities analysts forecast that Reynolds Consumer Products will post earnings per share of $1.66 for the current year.
Reynolds Consumer Products announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will receive a dividend of $0.23 per share. The ex-dividend date is Friday, August 16th. This represents an annualized dividend of $0.92 and a dividend yield of 3.05%. Reynolds Consumer Products’ payout ratio is 58.60%.
Institutional trading in Reynolds Consumer Products
Several institutional investors have recently bought and sold shares of REYN. Park Avenue Securities LLC increased its holdings in shares of Reynolds Consumer Products by 2.8% in the first quarter. Park Avenue Securities LLC now owns 12,959 shares of the company’s stock valued at $370,000 after buying an additional 359 shares in the last quarter. Cornercap Investment Counsel Inc. increased its holdings in shares of Reynolds Consumer Products by 2.5% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock valued at $462,000 after buying an additional 416 shares in the last quarter. Ariel Investments LLC increased its holdings in shares of Reynolds Consumer Products by 7.0% in the first quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock valued at $204,000 after buying an additional 466 shares in the last quarter. Covestor Ltd increased its stake in Reynolds Consumer Products by 15.8% in the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock valued at $101,000 after purchasing an additional 480 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 485 shares in the last quarter. 26.81% of the shares are currently owned by hedge funds and other institutional investors.
Company profile of Reynolds Consumer Products
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Reynolds Consumer Products Inc. manufactures and sells cooking, waste and storage, and tableware products in the United States and internationally. The company operates in 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 liners, roasting bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, under the ALCAN brand in Canada, and under the Diamond brand internationally.
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