Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Free Report) 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.
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.
View Our Latest Stock Report on PTVE
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.
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