Pactiv Evergreen Inc. (PTVE) to Issue Quarterly Dividend of $0.10 on September 13th

Pactiv Evergreen Inc. (NASDAQ:PTVE) announced a quarterly dividend on Monday, July 29th, Zacks reports. Stockholders of record on Friday, August 30th will be given a dividend of 0.10 per share on Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, August 30th.

Pactiv Evergreen has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pactiv Evergreen to earn $1.23 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 32.5%.

Pactiv Evergreen Price Performance

Shares of Pactiv Evergreen stock opened at $11.49 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 2.04 and a debt-to-equity ratio of 2.72. The company has a market cap of $2.06 billion, a PE ratio of -24.98, a P/E/G ratio of 1.14 and a beta of 1.32. The business has a 50 day moving average of $11.46 and a 200 day moving average of $12.90. Pactiv Evergreen has a 52 week low of $7.41 and a 52 week high of $15.84.

Pactiv Evergreen (NASDAQ:PTVE) last announced its earnings results on Wednesday, July 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.34%. Pactiv Evergreen’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, equities research analysts forecast that Pactiv Evergreen will post 0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PTVE shares. UBS Group decreased their price objective on Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Robert W. Baird decreased their price objective on Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Citigroup decreased their price objective on Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, July 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.57.

Pactiv Evergreen Company Profile

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.