Pactiv Evergreen Inc. (NASDAQ:PTVE) Given Average Recommendation of “Hold” by Analysts

Pactiv Evergreen Inc. (NASDAQ:PTVE) has earned an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $16.33.

A number of brokerages have recently commented on PTVE. Citigroup restated a “neutral” rating and set a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Finally, UBS Group downgraded shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and upped their target price for the stock from $16.00 to $18.00 in a research note on Friday.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Pactiv Evergreen in the 2nd quarter worth approximately $326,000. Principal Financial Group Inc. boosted its stake in Pactiv Evergreen by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 20,856 shares of the company’s stock worth $236,000 after purchasing an additional 1,726 shares during the period. Versor Investments LP purchased a new stake in Pactiv Evergreen during the 2nd quarter valued at approximately $118,000. Wedbush Securities Inc. bought a new stake in shares of Pactiv Evergreen during the second quarter valued at approximately $145,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Pactiv Evergreen by 69.2% in the second quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock worth $41,000 after buying an additional 1,474 shares in the last quarter. 22.23% of the stock is currently owned by institutional investors.

Pactiv Evergreen Trading Down 0.1 %

Shares of PTVE opened at $17.53 on Friday. Pactiv Evergreen has a 1-year low of $8.83 and a 1-year high of $17.65. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The firm’s 50-day moving average price is $15.03 and its 200-day moving average price is $12.74. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -19.05, a PEG ratio of 1.70 and a beta of 1.24.

Pactiv Evergreen (NASDAQ:PTVE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The business 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 14.41% and a negative net margin of 3.16%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. Sell-side analysts anticipate that Pactiv Evergreen will post 1.03 EPS for the current year.

Pactiv Evergreen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.28%. Pactiv Evergreen’s dividend payout ratio is currently -43.48%.

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.