Pactiv Evergreen (NASDAQ:PTVE) Posts Earnings Results

Pactiv Evergreen (NASDAQ:PTVE) released its quarterly earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05, Briefing.com reports. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.29 billion. Pactiv Evergreen had a positive return on equity of 13.89% and a negative net margin of 1.50%. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS.

Pactiv Evergreen Price Performance

NASDAQ PTVE opened at $13.57 on Friday. The stock’s 50 day moving average is $14.22 and its 200 day moving average is $13.17. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.00 and a quick ratio of 0.93. Pactiv Evergreen has a 12 month low of $6.85 and a 12 month high of $15.84.

Pactiv Evergreen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.10 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.95%. Pactiv Evergreen’s dividend payout ratio is presently -86.96%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PTVE. UBS Group began coverage on Pactiv Evergreen in a research note on Tuesday, January 16th. They set a “buy” rating and a $19.00 price target for the company. Robert W. Baird boosted their price target on Pactiv Evergreen from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. The Goldman Sachs Group boosted their price target on Pactiv Evergreen from $12.50 to $14.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Citigroup boosted their price target on Pactiv Evergreen from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of Pactiv Evergreen in a research note on Monday, March 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pactiv Evergreen presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.