Pactiv Evergreen (PTVE) Set to Announce Earnings on Thursday

Pactiv Evergreen (NASDAQ:PTVE) will announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings data on Friday, March 1st. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Pactiv Evergreen had a negative net margin of 4.05% and a positive return on equity of 13.24%. The firm’s revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the company 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 Trading Down 0.6 %

Shares of PTVE opened at $15.44 on Tuesday. Pactiv Evergreen has a 12-month low of $6.85 and a 12-month high of $15.84. 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 company has a 50-day moving average of $14.21 and a two-hundred day moving average of $13.02.

Pactiv Evergreen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Thursday, March 14th. Pactiv Evergreen’s payout ratio is -31.75%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PTVE. Bank of America upgraded Pactiv Evergreen from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $16.00 in a report on Tuesday, January 2nd. The Goldman Sachs Group increased their target price on Pactiv Evergreen from $12.50 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Citigroup lifted their price target on Pactiv Evergreen from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Pactiv Evergreen in a research note on Monday, March 4th. Finally, UBS Group started coverage on shares of Pactiv Evergreen in a research report on Tuesday, January 16th. They issued a “buy” rating and a $19.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

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.