Citigroup Cuts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $28.00

Reynolds Consumer Products (NASDAQ:REYNGet Rating) had its target price lowered by Citigroup from $31.00 to $28.00 in a research note issued to investors on Monday morning, The Fly reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Reynolds Consumer Products from $34.00 to $33.00 and set an overweight rating for the company in a research note on Wednesday, March 30th. The Goldman Sachs Group lowered shares of Reynolds Consumer Products from a buy rating to a sell rating in a research note on Tuesday, March 29th. TheStreet lowered shares of Reynolds Consumer Products from a b- rating to a c rating in a research report on Monday, March 7th. Finally, Stifel Nicolaus lowered shares of Reynolds Consumer Products from a buy rating to a hold rating and reduced their price target for the company from $33.00 to $31.00 in a research report on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $32.50.

Reynolds Consumer Products stock opened at $26.95 on Monday. Reynolds Consumer Products has a twelve month low of $24.54 and a twelve month high of $32.29. The firm has a 50 day moving average price of $27.58 and a 200-day moving average price of $29.15. The company has a market capitalization of $5.66 billion, a P/E ratio of 18.72 and a beta of 0.31. The company has a quick ratio of 0.96, a current ratio of 2.30 and a debt-to-equity ratio of 1.18.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Reynolds Consumer Products had a net margin of 8.38% and a return on equity of 18.28%. The business had revenue of $845.00 million during the quarter, compared to analyst estimates of $859.65 million. During the same period in the previous year, the business earned $0.36 EPS. Reynolds Consumer Products’s revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Reynolds Consumer Products will post 1.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Monday, May 16th. Reynolds Consumer Products’s dividend payout ratio is currently 63.89%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC bought a new stake in Reynolds Consumer Products in the first quarter worth $32,000. Signaturefd LLC lifted its stake in Reynolds Consumer Products by 78.0% in the fourth quarter. Signaturefd LLC now owns 1,132 shares of the company’s stock worth $36,000 after purchasing an additional 496 shares during the last quarter. Parallel Advisors LLC lifted its stake in Reynolds Consumer Products by 37.8% in the fourth quarter. Parallel Advisors LLC now owns 1,177 shares of the company’s stock worth $37,000 after purchasing an additional 323 shares during the last quarter. Spire Wealth Management lifted its stake in Reynolds Consumer Products by 1,574.8% in the fourth quarter. Spire Wealth Management now owns 1,725 shares of the company’s stock worth $54,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Covestor Ltd bought a new stake in Reynolds Consumer Products in the fourth quarter worth $60,000. 27.33% of the stock is owned by institutional investors.

About Reynolds Consumer Products (Get Rating)

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, butcher 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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