Pactiv Evergreen Inc. (NASDAQ:PTVE) Announces $0.10 Quarterly Dividend

Pactiv Evergreen Inc. (NASDAQ:PTVE) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be paid 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 3.29%. The ex-dividend date is Monday, December 2nd.

Pactiv Evergreen has a dividend payout ratio of 31.3% indicating that 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 Stock Up 5.5 %

Shares of Pactiv Evergreen stock traded up $0.63 on Wednesday, reaching $12.16. 231,355 shares of the stock were exchanged, compared to its average volume of 380,958. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.93 and a current ratio of 2.04. The firm’s 50 day moving average is $11.58 and its 200-day moving average is $11.88. Pactiv Evergreen has a one year low of $8.83 and a one year high of $15.84.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 13.73%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, sell-side analysts forecast that Pactiv Evergreen will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

PTVE has been the subject of several research reports. Robert W. Baird dropped their price objective on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada dropped their price target on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group dropped their price target on shares of 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 equities research 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, Pactiv Evergreen has a consensus 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.