Pactiv Evergreen (NASDAQ:PTVE) Issues Earnings Results, Beats Expectations By $0.03 EPS

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

Pactiv Evergreen Stock Down 3.9 %

Pactiv Evergreen stock opened at $11.53 on Wednesday. The company has a 50 day moving average of $11.58 and a 200-day moving average of $11.88. The company has a quick ratio of 0.93, a current ratio of 2.04 and a debt-to-equity ratio of 2.72. Pactiv Evergreen has a twelve month low of $8.83 and a twelve month high of $15.84. The stock has a market capitalization of $2.07 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.26 and a beta of 1.30.

Pactiv Evergreen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.40 annualized dividend and a yield of 3.47%. Pactiv Evergreen’s dividend payout ratio (DPR) is currently 95.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PTVE shares. Royal Bank of Canada dropped their price target on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. 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 research note on Thursday, August 8th. Finally, Robert W. Baird cut their target price 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Pactiv Evergreen has a consensus rating of “Moderate Buy” and a consensus price target of $14.57.

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.