Pactiv Evergreen (PTVE) Set to Announce Earnings on Thursday

Pactiv Evergreen (NASDAQ:PTVE) will post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Pactiv Evergreen to post earnings of $0.09 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Pactiv Evergreen (NASDAQ:PTVE) last released its quarterly earnings results on Friday, March 1st. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Pactiv Evergreen had a positive return on equity of 13.24% and a negative net margin of 4.05%. The company’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. On average, analysts expect Pactiv Evergreen to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Pactiv Evergreen Price Performance

PTVE stock opened at $15.25 on Thursday. The company has a market capitalization of $2.73 billion, a P/E ratio of -12.10, a price-to-earnings-growth ratio of 0.94 and a beta of 1.50. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.93 and a current ratio of 2.00. The business has a 50-day simple moving average of $14.16 and a two-hundred day simple moving average of $12.81. Pactiv Evergreen has a 52-week low of $6.85 and a 52-week high of $15.51.

Pactiv Evergreen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, March 14th. Pactiv Evergreen’s dividend payout ratio is presently -31.75%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PTVE. Jefferies Financial Group began coverage on Pactiv Evergreen in a report on Friday, January 19th. They issued a “buy” rating and a $18.00 target price for the company. The Goldman Sachs Group upped their target price on Pactiv Evergreen from $12.50 to $14.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Citigroup upped their target price on Pactiv Evergreen from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Robert W. Baird upped their target price on Pactiv Evergreen from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, UBS Group started coverage on Pactiv Evergreen in a research note on Tuesday, January 16th. They issued a “buy” rating and a $19.00 price objective on the stock. Two research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.