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

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 given a dividend of 0.10 per share on Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date 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 $1.22 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 trading on Wednesday, reaching $12.18. 373,666 shares of the company’s stock were exchanged, compared to its average volume of 381,513. Pactiv Evergreen has a 1 year low of $8.83 and a 1 year high of $15.84. The company has a quick ratio of 0.93, a current ratio of 2.04 and a debt-to-equity ratio of 2.72. The company has a 50 day moving average price of $11.58 and a two-hundred day moving average price of $11.88.

Pactiv Evergreen (NASDAQ:PTVE) last announced its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $1.33 billion during 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 was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. Sell-side analysts forecast that Pactiv Evergreen will post 0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PTVE has been the topic of a number of analyst reports. Robert W. Baird lowered their price objective on Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. UBS Group cut their price objective on Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price target on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently 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.