Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) released its earnings results on Tuesday. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03, Briefing.com reports. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.37 billion. Pactiv Evergreen had a positive return on equity of 13.73% and a negative net margin of 3.16%. The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share.
Pactiv Evergreen Price Performance
PTVE stock traded up $0.65 during midday trading on Wednesday, hitting $12.18. The stock had a trading volume of 373,668 shares, compared to its average volume of 381,604. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.04 and a quick ratio of 0.93. The business has a fifty day moving average price of $11.58 and a two-hundred day moving average price of $11.88. Pactiv Evergreen has a 1-year low of $8.83 and a 1-year high of $15.84.
Pactiv Evergreen Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, December 2nd. Pactiv Evergreen's dividend payout ratio is presently -43.48%.
Analyst Ratings Changes
A number of research firms recently issued reports on PTVE. Royal Bank of Canada lowered their price objective on shares of Pactiv Evergreen from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Robert W. Baird lowered their price target on shares of Pactiv Evergreen from $15.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. Finally, UBS Group cut their price objective on Pactiv Evergreen from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Pactiv Evergreen has a consensus rating of "Moderate Buy" and a consensus target price of $14.57.
View Our Latest Stock Report on PTVE
About Pactiv Evergreen
(
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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.
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