Pactiv Evergreen Inc. to Issue Quarterly Dividend of $0.10 (NASDAQ:PTVE)

Pactiv Evergreen Inc. (NASDAQ:PTVE) declared a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.10 per share on Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, December 2nd.

Pactiv Evergreen has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Pactiv Evergreen to earn $1.22 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 32.8%.

Pactiv Evergreen Price Performance

NASDAQ PTVE traded up $0.65 during mid-day trading on Wednesday, reaching $12.18. 373,666 shares of the stock were exchanged, compared to its average volume of 381,513. The company has a quick ratio of 0.93, a current ratio of 2.04 and a debt-to-equity ratio of 2.72. Pactiv Evergreen has a 1-year low of $8.83 and a 1-year high of $15.84. The business’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $11.88.

Pactiv Evergreen (NASDAQ:PTVE) last released its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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 negative net margin of 3.16% and a positive return on equity of 13.73%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. As a group, equities analysts forecast that Pactiv Evergreen will post 0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PTVE has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, UBS Group dropped their target price on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Pactiv Evergreen Company Profile

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.