Pactiv Evergreen (NASDAQ:PTVE) Releases Quarterly Earnings Results

Pactiv Evergreen (NASDAQ:PTVE) announced its earnings results on Tuesday. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03, Briefing.com reports. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.37 billion. Pactiv Evergreen had a return on equity of 13.34% and a net margin of 1.49%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS.

Pactiv Evergreen Price Performance

PTVE stock opened at $11.53 on Wednesday. The firm’s fifty day moving average is $11.58 and its 200 day moving average is $11.88. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.93 and a current ratio of 2.04. Pactiv Evergreen has a 52 week low of $8.83 and a 52 week high of $15.84. The firm has a market cap of $2.07 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.26 and a beta of 1.30.

Pactiv Evergreen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 3.47%. Pactiv Evergreen’s payout ratio is 95.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PTVE shares. Robert W. Baird dropped their price objective on Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada reduced their price target on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group cut their target price on Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pactiv Evergreen currently has a consensus rating of “Moderate Buy” and an average target price 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.