Pactiv Evergreen Inc. (NASDAQ:PTVE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Pactiv Evergreen from $12.50 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Robert W. Baird raised their price target on Pactiv Evergreen from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Bank of America raised Pactiv Evergreen from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $16.00 in a research report on Tuesday, January 2nd. Citigroup raised their price target on Pactiv Evergreen from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price target on shares of Pactiv Evergreen in a research report on Monday, March 4th.

Pactiv Evergreen Stock Performance

Shares of PTVE stock opened at $14.24 on Thursday. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -11.30, a price-to-earnings-growth ratio of 0.91 and a beta of 1.50. The stock has a 50 day simple moving average of $14.16 and a 200-day simple moving average of $12.59. Pactiv Evergreen has a 12-month low of $6.85 and a 12-month high of $15.51. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69.

Pactiv Evergreen (NASDAQ:PTVE) last released its quarterly earnings data on Friday, March 1st. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.19. The firm 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%. Pactiv Evergreen’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, equities analysts forecast that Pactiv Evergreen will post 1.13 EPS for the current year.

Pactiv Evergreen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, March 14th. Pactiv Evergreen’s dividend payout ratio (DPR) is -31.75%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC acquired a new position in shares of Pactiv Evergreen in the fourth quarter worth about $27,000. TFO Wealth Partners LLC lifted its stake in shares of Pactiv Evergreen by 111,150.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,225 shares of the company’s stock worth $31,000 after acquiring an additional 2,223 shares in the last quarter. State of Wyoming acquired a new position in shares of Pactiv Evergreen in the fourth quarter worth about $30,000. Lazard Asset Management LLC acquired a new position in shares of Pactiv Evergreen in the fourth quarter worth about $31,000. Finally, Quantbot Technologies LP acquired a new position in shares of Pactiv Evergreen in the first quarter worth about $30,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

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.