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

Pactiv Evergreen (NASDAQ:PTVEGet 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:PTVEGet 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.

See Also

Earnings History for Pactiv Evergreen (NASDAQ:PTVE)

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