Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Free Report) has been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.57.
A number of brokerages have weighed in on PTVE. Citigroup reduced their target price on Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 8th. UBS Group reduced their price objective on Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada decreased their target price on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Robert W. Baird dropped their target price on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd.
Check Out Our Latest Report on Pactiv Evergreen
Institutional Investors Weigh In On Pactiv Evergreen
Pactiv Evergreen Trading Down 2.8 %
PTVE stock opened at $11.23 on Thursday. Pactiv Evergreen has a 52 week low of $7.58 and a 52 week high of $15.84. The company has a market capitalization of $2.01 billion, a PE ratio of -24.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. The company’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $12.45. 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 (NASDAQ:PTVE – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). Pactiv Evergreen had a return on equity of 13.34% and a net margin of 1.49%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business earned $0.20 EPS. Pactiv Evergreen’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Pactiv Evergreen will post 0.98 earnings per share for the current year.
Pactiv Evergreen Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, August 30th. Pactiv Evergreen’s payout ratio is -86.96%.
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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