Pactiv Evergreen (NASDAQ:PTVE) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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

Pactiv Evergreen Stock Down 3.9 %

Shares of PTVE opened at $11.53 on Wednesday. The business’s 50 day simple moving average is $11.58 and its 200-day simple moving average is $11.88. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.04 and a quick ratio of 0.93. Pactiv Evergreen has a one year low of $8.83 and a one year high of $15.84. The company has a market capitalization of $2.07 billion, a P/E ratio of 27.45, a PEG ratio of 1.26 and a beta of 1.30.

Pactiv Evergreen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid 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 is 95.24%.

Analyst Ratings Changes

PTVE has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of 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 dropped their price objective on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, UBS Group cut their price objective on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Pactiv Evergreen has an average rating of “Moderate Buy” and an average price target 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.