Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Pactiv Evergreen Inc. (NASDAQ:PTVE) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.00.

Several equities analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Pactiv Evergreen in a research report on Friday, January 19th. They set a “buy” rating and a $18.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Pactiv Evergreen from $12.50 to $14.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Robert W. Baird raised their price target on shares of Pactiv Evergreen from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Citigroup boosted their price objective on shares of Pactiv Evergreen from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, UBS Group began coverage on shares of Pactiv Evergreen in a research report on Tuesday, January 16th. They set a “buy” rating and a $19.00 target price on the stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in Pactiv Evergreen during the fourth quarter valued at about $27,000. TFO Wealth Partners LLC increased its position in Pactiv Evergreen by 111,150.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,225 shares of the company’s stock worth $31,000 after purchasing an additional 2,223 shares in the last quarter. Federated Hermes Inc. increased its position in Pactiv Evergreen by 109.7% during the 4th quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock worth $48,000 after purchasing an additional 1,818 shares in the last quarter. Greenwich Wealth Management LLC purchased a new position in Pactiv Evergreen in the third quarter valued at approximately $84,000. Finally, Cable Hill Partners LLC acquired a new position in Pactiv Evergreen during the third quarter valued at approximately $87,000. 22.23% of the stock is owned by hedge funds and other institutional investors.

Pactiv Evergreen Price Performance

Shares of NASDAQ PTVE opened at $13.57 on Monday. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69. The company’s 50-day moving average price is $14.22 and its 200 day moving average price is $13.21. Pactiv Evergreen has a 52 week low of $6.85 and a 52 week high of $15.84. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -29.50, a PEG ratio of 0.86 and a beta of 1.43.

Pactiv Evergreen (NASDAQ:PTVE) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. Pactiv Evergreen had a negative net margin of 1.50% and a positive return on equity of 13.89%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $0.13 earnings per share. The company’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, research analysts forecast that Pactiv Evergreen will post 1.13 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, May 31st. Pactiv Evergreen’s dividend payout ratio (DPR) is -86.96%.

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.