Pactiv Evergreen Inc. (NASDAQ:PTVE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.00.

Several equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Pactiv Evergreen in a research report on Friday, January 19th. They set a “buy” rating and a $18.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Pactiv Evergreen from $12.50 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Bank of America upgraded shares of Pactiv Evergreen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $16.00 in a research report on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Pactiv Evergreen in a research report on Monday, March 4th. Finally, Citigroup boosted their price target on shares of Pactiv Evergreen from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th.

Pactiv Evergreen Trading Down 0.1 %

PTVE opened at $14.33 on Thursday. The company’s 50 day moving average is $14.16 and its 200-day moving average is $12.53. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69. Pactiv Evergreen has a 1-year low of $6.85 and a 1-year high of $15.51. The company has a market cap of $2.56 billion, a P/E ratio of -11.37, a PEG ratio of 0.91 and a beta of 1.50.

Pactiv Evergreen (NASDAQ:PTVE) last posted its earnings results on Friday, March 1st. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.14 by $0.19. Pactiv Evergreen had a negative net margin of 4.05% and a positive return on equity of 13.24%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.18 EPS. The firm’s revenue was down 13.7% compared to the same quarter last year. Equities research analysts predict that Pactiv Evergreen will post 1.13 earnings per share for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.79%. Pactiv Evergreen’s dividend payout ratio is currently -31.75%.

Institutional Trading of Pactiv Evergreen

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Pactiv Evergreen by 0.8% in the 3rd quarter. Invesco Ltd. now owns 124,691 shares of the company’s stock valued at $1,014,000 after acquiring an additional 994 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Pactiv Evergreen by 10.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 13,155 shares of the company’s stock valued at $107,000 after acquiring an additional 1,196 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Pactiv Evergreen by 59.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,570 shares of the company’s stock valued at $37,000 after acquiring an additional 1,695 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Pactiv Evergreen by 109.7% in the 4th quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock valued at $48,000 after acquiring an additional 1,818 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Pactiv Evergreen by 2.1% in the 3rd quarter. Swiss National Bank now owns 97,900 shares of the company’s stock valued at $796,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 22.23% of the company’s stock.

About Pactiv Evergreen

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in the United States, rest of North America, and internationally. It operates in two segments, Foodservice, and Food and Beverage Merchandising. The Foodservice segment offers food containers; drinkware, such as hot and cold cups and lids; and tableware, service ware, and other products.