Yahoo Finance Pactiv Evergreen Inc. (PTVE) Exceeds Market Returns: Some Facts to Consider
Pactiv Evergreen Inc. (PTVE) closed the latest trading day at $15.25, indicating a +1.67% change from the previous session's end. This change outpaced the S&P 500's 0.02% gain on the day. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.1%.
The company's shares have seen an increase of 8.93% over the last month, surpassing the Consumer Discretionary sector's loss of 5.39% and the S&P 500's loss of 3.01%.
Investors will be eagerly watching for the performance of Pactiv Evergreen Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 2, 2024. It is anticipated that the company will report an EPS of $0.09, marking a 30.77% fall compared to the same quarter of the previous year. 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.13 per share and revenue of $5.27 billion, indicating changes of +17.71% and -4.3%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Pactiv Evergreen Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Pactiv Evergreen Inc. possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Pactiv Evergreen Inc. is at present trading with a Forward P/E ratio of 13.33. This expresses a discount compared to the average Forward P/E of 17.31 of its industry.
Meanwhile, PTVE's PEG ratio is currently 0.96. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Consumer Services - Miscellaneous industry had an average PEG ratio of 1.21 as trading concluded yesterday.
The Consumer Services - Miscellaneous industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 176, positioning it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Pactiv Evergreen Inc. (PTVE) : Free Stock Analysis Report
