We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pactiv Evergreen Inc. (PTVE) Stock Moves -1.1%: What You Should Know
Read MoreHide Full Article
Pactiv Evergreen Inc. (PTVE - Free Report) closed the latest trading day at $14.34, indicating a -1.1% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 1.46% for the day. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
Heading into today, shares of the company had gained 11.03% over the past month, outpacing the Consumer Discretionary sector's loss of 2.31% and the S&P 500's gain of 1.6% in that time.
The investment community will be paying close attention to the earnings performance of Pactiv Evergreen Inc. in its upcoming release. On that day, Pactiv Evergreen Inc. is projected to report earnings of $0.09 per share, which would represent a year-over-year decline of 30.77%. At the same time, our most recent consensus estimate is projecting a revenue of $1.17 billion, reflecting a 18.27% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.13 per share and a revenue of $5.27 billion, signifying shifts of +17.71% and -4.3%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Pactiv Evergreen Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Pactiv Evergreen Inc. currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Pactiv Evergreen Inc. is currently trading at a Forward P/E ratio of 12.89. This valuation marks a discount compared to its industry's average Forward P/E of 17.45.
It is also worth noting that PTVE currently has a PEG ratio of 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Consumer Services - Miscellaneous industry was having an average PEG ratio of 1.24.
The Consumer Services - Miscellaneous industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 183, finds itself in the bottom 28% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Pactiv Evergreen Inc. (PTVE) Stock Moves -1.1%: What You Should Know
Pactiv Evergreen Inc. (PTVE - Free Report) closed the latest trading day at $14.34, indicating a -1.1% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 1.46% for the day. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
Heading into today, shares of the company had gained 11.03% over the past month, outpacing the Consumer Discretionary sector's loss of 2.31% and the S&P 500's gain of 1.6% in that time.
The investment community will be paying close attention to the earnings performance of Pactiv Evergreen Inc. in its upcoming release. On that day, Pactiv Evergreen Inc. is projected to report earnings of $0.09 per share, which would represent a year-over-year decline of 30.77%. At the same time, our most recent consensus estimate is projecting a revenue of $1.17 billion, reflecting a 18.27% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.13 per share and a revenue of $5.27 billion, signifying shifts of +17.71% and -4.3%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Pactiv Evergreen Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Pactiv Evergreen Inc. currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Pactiv Evergreen Inc. is currently trading at a Forward P/E ratio of 12.89. This valuation marks a discount compared to its industry's average Forward P/E of 17.45.
It is also worth noting that PTVE currently has a PEG ratio of 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Consumer Services - Miscellaneous industry was having an average PEG ratio of 1.24.
The Consumer Services - Miscellaneous industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 183, finds itself in the bottom 28% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.