Pactiv Evergreen (PTVE) Set to Announce Earnings on Thursday

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

Pactiv Evergreen (NASDAQ:PTVE) last released its earnings results on Friday, March 1st. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. Pactiv Evergreen had a negative net margin of 4.05% and a positive return on equity of 13.24%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.18 EPS. Pactiv Evergreen’s revenue for the quarter was down 13.7% on a year-over-year basis. 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 Stock Up 1.7 %

PTVE opened at $15.25 on Thursday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.93 and a current ratio of 2.00. Pactiv Evergreen has a fifty-two week low of $6.85 and a fifty-two week high of $15.51. The firm’s fifty day moving average is $14.16 and its 200 day moving average is $12.81. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -12.10, a price-to-earnings-growth ratio of 0.94 and a beta of 1.50.

Pactiv Evergreen Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, March 14th. Pactiv Evergreen’s dividend payout ratio (DPR) is -31.75%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PTVE. Jefferies Financial Group assumed coverage on shares of Pactiv Evergreen in a research note on Friday, January 19th. They set a “buy” rating and a $18.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Pactiv Evergreen from $12.50 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Citigroup boosted their price target on shares of Pactiv Evergreen from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Bank of America upgraded shares of Pactiv Evergreen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $16.00 in a research note on Tuesday, January 2nd. Finally, UBS Group assumed coverage on shares of Pactiv Evergreen in a research note on Tuesday, January 16th. They issued a “buy” rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Pactiv Evergreen has a consensus rating of “Moderate Buy” and an average target price of $16.00.

About Pactiv Evergreen

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.