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

Pactiv Evergreen Inc. (NASDAQ:PTVE) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat 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 twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.57.

A number of analysts have commented on PTVE shares. Robert W. Baird reduced their price objective on Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada reduced their target price on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Citigroup lowered their price target on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, UBS Group reduced their price objective on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th.

Institutional Trading of Pactiv Evergreen

Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in shares of Pactiv Evergreen in the 2nd quarter worth approximately $114,000. The Manufacturers Life Insurance Company grew its holdings in shares of Pactiv Evergreen by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company’s stock worth $303,000 after purchasing an additional 1,431 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Pactiv Evergreen by 54.4% in the second quarter. AQR Capital Management LLC now owns 291,654 shares of the company’s stock valued at $3,302,000 after buying an additional 102,730 shares in the last quarter. Caxton Associates LP bought a new position in shares of Pactiv Evergreen in the second quarter valued at about $367,000. Finally, Point72 DIFC Ltd lifted its position in Pactiv Evergreen by 33.2% during the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock worth $89,000 after buying an additional 1,965 shares in the last quarter. 22.23% of the stock is owned by institutional investors.

Pactiv Evergreen Trading Up 2.5 %

Shares of PTVE stock opened at $11.18 on Friday. The firm has a market capitalization of $2.00 billion, a P/E ratio of -24.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. Pactiv Evergreen has a 1 year low of $7.58 and a 1 year high of $15.84. The firm’s fifty day simple moving average is $11.43 and its 200 day simple moving average is $12.61. The company has a current ratio of 2.04, a quick ratio of 0.93 and a debt-to-equity ratio of 2.72.

Pactiv Evergreen (NASDAQ:PTVE) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). Pactiv Evergreen had a return on equity of 13.34% and a net margin of 1.49%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Pactiv Evergreen will post 0.98 EPS for the current year.

Pactiv Evergreen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Friday, August 30th. Pactiv Evergreen’s dividend payout ratio (DPR) is currently -86.96%.

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.