Pactiv Evergreen Inc. (PTVE) To Go Ex-Dividend on December 2nd

Pactiv Evergreen Inc. (NASDAQ:PTVE) announced a quarterly dividend on Saturday, November 9th,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 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, December 2nd.

Pactiv Evergreen has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pactiv Evergreen to earn $1.23 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 32.5%.

Pactiv Evergreen Stock Up 0.5 %

PTVE opened at $13.57 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. The business has a 50 day simple moving average of $11.97 and a 200-day simple moving average of $11.81. The stock has a market capitalization of $2.43 billion, a P/E ratio of -14.80, a P/E/G ratio of 1.33 and a beta of 1.30. Pactiv Evergreen has a 12 month low of $8.83 and a 12 month high of $15.84.

Pactiv Evergreen (NASDAQ:PTVE) last released 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. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted $0.32 EPS. Pactiv Evergreen’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities analysts anticipate that Pactiv Evergreen will post 1.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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