Pactiv Evergreen (NASDAQ:PTVE – Get Free Report) released its earnings results on Wednesday. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06), Briefing.com reports. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.35%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS.
Pactiv Evergreen Trading Down 20.4 %
Shares of PTVE stock opened at $10.46 on Friday. The company has a fifty day moving average price of $11.99 and a two-hundred day moving average price of $13.42. Pactiv Evergreen has a one year low of $7.41 and a one year high of $15.84. The company has a current ratio of 2.02, a quick ratio of 0.87 and a debt-to-equity ratio of 2.69.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on PTVE. UBS Group cut their price objective on shares of Pactiv Evergreen from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Citigroup cut their price target on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.86.
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.
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