Reynolds Consumer Products (NASDAQ:REYN) PT Raised to $36.00

Reynolds Consumer Products (NASDAQ:REYN) had its price objective increased by The Goldman Sachs Group from $32.00 to $36.00 in a research report report published on Tuesday, PriceTargets.com reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts have also recently commented on REYN. Credit Suisse Group reduced their price target on shares of Reynolds Consumer Products from $35.00 to $34.00 and set an outperform rating on the stock in a research report on Friday, October 15th. Citigroup cut shares of Reynolds Consumer Products from a buy rating to a neutral rating and increased their price target for the company from $32.00 to $35.00 in a research report on Tuesday. Finally, Zacks Investment Research cut shares of Reynolds Consumer Products from a hold rating to a sell rating in a research report on Thursday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Buy and an average price target of $33.86.

Shares of NASDAQ REYN opened at $32.06 on Tuesday. Reynolds Consumer Products has a one year low of $26.50 and a one year high of $32.29. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.22 and a quick ratio of 0.91. The firm’s 50 day simple moving average is $30.41 and its two-hundred day simple moving average is $29.11. The stock has a market capitalization of $6.72 billion, a P/E ratio of 20.42 and a beta of 0.34.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Thursday, November 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Reynolds Consumer Products had a net margin of 9.70% and a return on equity of 21.00%. The business had revenue of $905.00 million for the quarter, compared to analysts’ expectations of $879.88 million. During the same period last year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Reynolds Consumer Products will post 1.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Tuesday, November 16th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Monday, November 15th. Reynolds Consumer Products’s dividend payout ratio is 58.60%.

Several institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Reynolds Consumer Products by 58.2% in the second quarter. FMR LLC now owns 5,576,049 shares of the company’s stock worth $169,233,000 after purchasing an additional 2,050,492 shares during the last quarter. Vanguard Group Inc. lifted its stake in Reynolds Consumer Products by 3.7% in the second quarter. Vanguard Group Inc. now owns 4,829,553 shares of the company’s stock worth $146,577,000 after acquiring an additional 173,744 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Reynolds Consumer Products by 1.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,304,211 shares of the company’s stock worth $62,997,000 after acquiring an additional 33,559 shares during the period. BlackRock Inc. lifted its stake in Reynolds Consumer Products by 4.0% in the second quarter. BlackRock Inc. now owns 2,235,092 shares of the company’s stock worth $67,835,000 after acquiring an additional 85,296 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Reynolds Consumer Products by 6.3% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,917,097 shares of the company’s stock worth $52,413,000 after acquiring an additional 113,065 shares during the period. Hedge funds and other institutional investors own 27.71% 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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