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Pactiv Evergreen Inc. (PTVE) Registers a Bigger Fall Than the Market: Important Facts to Note
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Pactiv Evergreen Inc. (PTVE - Free Report) closed at $14.14 in the latest trading session, marking a -0.7% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.22% for the day. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.52%.
Coming into today, shares of the company had gained 3.79% in the past month. In that same time, the Consumer Discretionary sector lost 5.12%, while the S&P 500 lost 1.66%.
Investors will be eagerly watching for the performance of Pactiv Evergreen Inc. in its upcoming earnings disclosure. 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. Our most recent consensus estimate is calling for quarterly revenue of $1.17 billion, down 18.27% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.13 per share and revenue of $5.27 billion. These totals would mark changes of +17.71% and -4.3%, respectively, from last year.
Any recent changes to analyst estimates for Pactiv Evergreen Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Pactiv Evergreen Inc. possesses a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Pactiv Evergreen Inc. is currently exchanging hands at a Forward P/E ratio of 12.66. Its industry sports an average Forward P/E of 16.5, so one might conclude that Pactiv Evergreen Inc. is trading at a discount comparatively.
It's also important to note that PTVE currently trades at a PEG ratio of 0.91. 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 currently had an average PEG ratio of 1.18 as of yesterday's close.
The Consumer Services - Miscellaneous industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Pactiv Evergreen Inc. (PTVE) Registers a Bigger Fall Than the Market: Important Facts to Note
Pactiv Evergreen Inc. (PTVE - Free Report) closed at $14.14 in the latest trading session, marking a -0.7% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.22% for the day. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.52%.
Coming into today, shares of the company had gained 3.79% in the past month. In that same time, the Consumer Discretionary sector lost 5.12%, while the S&P 500 lost 1.66%.
Investors will be eagerly watching for the performance of Pactiv Evergreen Inc. in its upcoming earnings disclosure. 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. Our most recent consensus estimate is calling for quarterly revenue of $1.17 billion, down 18.27% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.13 per share and revenue of $5.27 billion. These totals would mark changes of +17.71% and -4.3%, respectively, from last year.
Any recent changes to analyst estimates for Pactiv Evergreen Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Pactiv Evergreen Inc. possesses a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Pactiv Evergreen Inc. is currently exchanging hands at a Forward P/E ratio of 12.66. Its industry sports an average Forward P/E of 16.5, so one might conclude that Pactiv Evergreen Inc. is trading at a discount comparatively.
It's also important to note that PTVE currently trades at a PEG ratio of 0.91. 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 currently had an average PEG ratio of 1.18 as of yesterday's close.
The Consumer Services - Miscellaneous industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.