Pactiv Evergreen (PTVE) Scheduled to Post Quarterly Earnings on Wednesday

Pactiv Evergreen (NASDAQ:PTVE – Get Rating) is set to issue its quarterly earnings data after the market closes on Wednesday, May 4th. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Pactiv Evergreen (NASDAQ:PTVE – Get Rating) last released its earnings results on Wednesday, February 23rd. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.29. Pactiv Evergreen had a return on equity of 14.22% and a net margin of 0.42%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.47 billion. On average, analysts expect Pactiv Evergreen to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NASDAQ PTVE opened at $9.48 on Wednesday. Pactiv Evergreen has a 12 month low of $8.71 and a 12 month high of $16.49. The stock has a market cap of $1.68 billion, a P/E ratio of 79.00 and a beta of 2.45. The stock’s fifty day moving average price is $9.87 and its 200-day moving average price is $11.60. The company has a current ratio of 2.27, a quick ratio of 1.23 and a debt-to-equity ratio of 3.34.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Friday, March 4th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.22%. Pactiv Evergreen’s dividend payout ratio is currently 333.33%.

In other news, insider Eric Wulf bought 10,000 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were bought at an average price of $10.00 per share, for a total transaction of $100,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Allen Hugli purchased 8,500 shares of the stock in a transaction on Tuesday, March 1st. The shares were purchased at an average cost of $9.23 per share, for a total transaction of $78,455.00. The disclosure for this purchase can be found here. Corporate insiders own 0.07% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Pactiv Evergreen by 66.5% in the fourth quarter. Bank of America Corp DE now owns 30,224 shares of the company’s stock worth $383,000 after acquiring an additional 12,076 shares during the period. Credit Suisse AG lifted its holdings in Pactiv Evergreen by 11.0% in the 4th quarter. Credit Suisse AG now owns 29,990 shares of the company’s stock worth $381,000 after purchasing an additional 2,971 shares in the last quarter. Morgan Stanley boosted its stake in Pactiv Evergreen by 98.0% in the 3rd quarter. Morgan Stanley now owns 27,832 shares of the company’s stock worth $348,000 after purchasing an additional 13,777 shares during the period. Deutsche Bank AG grew its holdings in Pactiv Evergreen by 5.6% during the 4th quarter. Deutsche Bank AG now owns 26,140 shares of the company’s stock valued at $331,000 after buying an additional 1,392 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Pactiv Evergreen by 13.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 24,435 shares of the company’s stock valued at $310,000 after buying an additional 2,861 shares during the last quarter. 22.29% of the stock is currently owned by institutional investors and hedge funds.

PTVE has been the topic of a number of recent research reports. Citigroup increased their target price on Pactiv Evergreen from $11.00 to $12.00 in a research note on Friday, April 8th. Mizuho lowered their price target on Pactiv Evergreen from $16.00 to $14.00 in a report on Monday, February 28th. Zacks Investment Research downgraded Pactiv Evergreen from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 2nd. Bank of America downgraded Pactiv Evergreen from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, April 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Pactiv Evergreen from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.88.

Pactiv Evergreen Company Profile (Get Rating)

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in North America. It operates through three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The Foodservice segment offers food containers, hot and cold cups, lids, dinnerware, tableware, service ware, and other products.

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