Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $16.71.

PTVE has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Pactiv Evergreen from $12.50 to $14.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price target on shares of Pactiv Evergreen in a report on Monday, March 4th. Citigroup upped their price target on shares of Pactiv Evergreen from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Robert W. Baird upped their price target on shares of Pactiv Evergreen from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, March 4th.

Pactiv Evergreen Stock Up 0.7 %

Shares of PTVE opened at $11.40 on Tuesday. Pactiv Evergreen has a one year low of $7.14 and a one year high of $15.84. The company has a market cap of $2.04 billion, a P/E ratio of -24.78, a P/E/G ratio of 0.76 and a beta of 1.32. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.02 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $12.81 and a two-hundred day simple moving average of $13.68.

Pactiv Evergreen (NASDAQ:PTVE) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.29 billion. Pactiv Evergreen had a negative net margin of 1.50% and a positive return on equity of 13.79%. The company’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. Research analysts forecast that Pactiv Evergreen will post 1.18 EPS for the current fiscal year.

Pactiv Evergreen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 3.51%. Pactiv Evergreen’s dividend payout ratio is -86.96%.

Institutional Trading of Pactiv Evergreen

Several institutional investors have recently modified their holdings of PTVE. ICA Group Wealth Management LLC bought a new stake in shares of Pactiv Evergreen in the fourth quarter worth $27,000. TFO Wealth Partners LLC boosted its position in Pactiv Evergreen by 111,150.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,225 shares of the company’s stock valued at $31,000 after acquiring an additional 2,223 shares during the last quarter. Federated Hermes Inc. boosted its position in Pactiv Evergreen by 109.7% during the fourth quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock valued at $48,000 after acquiring an additional 1,818 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Pactiv Evergreen by 164.5% during the first quarter. Public Employees Retirement System of Ohio now owns 7,302 shares of the company’s stock valued at $105,000 after acquiring an additional 4,541 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Pactiv Evergreen by 10.0% during the third quarter. Janney Montgomery Scott LLC now owns 13,155 shares of the company’s stock valued at $107,000 after acquiring an additional 1,196 shares during the last quarter. Institutional investors own 22.23% of the company’s stock.

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.