Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives $14.57 Consensus PT from Brokerages

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $15.14.

Separately, Citigroup reiterated a “neutral” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday.

Pactiv Evergreen Stock Performance

PTVE opened at $17.26 on Tuesday. The firm has a 50 day moving average of $12.74 and a two-hundred day moving average of $11.97. The firm has a market capitalization of $3.09 billion, a PE ratio of -18.76, a P/E/G ratio of 1.44 and a beta of 1.35. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. Pactiv Evergreen has a 12-month low of $8.83 and a 12-month high of $17.61.

Pactiv Evergreen (NASDAQ:PTVE) last posted its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, analysts anticipate that Pactiv Evergreen will post 1.03 EPS for the current year.

Pactiv Evergreen Dividend Announcement

The company 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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, December 2nd. Pactiv Evergreen’s dividend payout ratio (DPR) is -43.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTVE. CWM LLC increased its position in shares of Pactiv Evergreen by 186.8% in the second quarter. CWM LLC now owns 3,396 shares of the company’s stock worth $38,000 after acquiring an additional 2,212 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Pactiv Evergreen by 69.2% in the second quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock worth $41,000 after purchasing an additional 1,474 shares during the period. Innealta Capital LLC acquired a new stake in shares of Pactiv Evergreen during the second quarter worth $83,000. Point72 DIFC Ltd boosted its holdings in shares of Pactiv Evergreen by 33.2% in the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock valued at $89,000 after buying an additional 1,965 shares during the period. Finally, Mackenzie Financial Corp bought a new position in Pactiv Evergreen in the second quarter worth about $114,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

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.