Sealed Air Corp (NYSE:SEE) – Analysts at Jefferies Financial Group cut their FY2019 EPS estimates for shares of Sealed Air in a research report issued on Wednesday, October 10th. Jefferies Financial Group analyst D. Rizzo now expects that the industrial products company will post earnings of $2.80 per share for the year, down from their prior forecast of $2.85. Jefferies Financial Group also issued estimates for Sealed Air’s FY2020 earnings at $3.15 EPS.
SEE has been the subject of a number of other reports. Barclays decreased their target price on Sealed Air from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 9th. ValuEngine cut Sealed Air from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. KeyCorp reissued a “hold” rating on shares of Sealed Air in a research note on Thursday, August 2nd. Zacks Investment Research cut Sealed Air from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Citigroup reduced their price objective on Sealed Air from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $49.20.
NYSE:SEE opened at $34.78 on Thursday. Sealed Air has a 1 year low of $34.43 and a 1 year high of $49.94. The company has a quick ratio of 0.69, a current ratio of 1.11 and a debt-to-equity ratio of -8.64. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10.
Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. Sealed Air had a return on equity of 859.42% and a net margin of 14.37%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of SEE. American Century Companies Inc. raised its holdings in Sealed Air by 43.8% during the second quarter. American Century Companies Inc. now owns 1,316,525 shares of the industrial products company’s stock worth $55,886,000 after acquiring an additional 401,096 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Sealed Air by 35.6% during the second quarter. Victory Capital Management Inc. now owns 1,427,017 shares of the industrial products company’s stock worth $60,577,000 after acquiring an additional 374,733 shares in the last quarter. UBS Group AG raised its holdings in Sealed Air by 13.1% during the first quarter. UBS Group AG now owns 1,736,135 shares of the industrial products company’s stock worth $74,290,000 after acquiring an additional 201,304 shares in the last quarter. Bank of America Corp DE raised its holdings in Sealed Air by 14.2% during the second quarter. Bank of America Corp DE now owns 1,532,074 shares of the industrial products company’s stock worth $65,037,000 after acquiring an additional 190,557 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Sealed Air by 897.1% during the second quarter. Millennium Management LLC now owns 194,465 shares of the industrial products company’s stock worth $8,255,000 after acquiring an additional 174,962 shares in the last quarter. 96.23% of the stock is owned by institutional investors.
In other news, insider Edward L. Doheny II acquired 5,000 shares of Sealed Air stock in a transaction dated Monday, August 13th. The stock was bought at an average cost of $39.65 per share, with a total value of $198,250.00. Following the completion of the transaction, the insider now directly owns 78,145 shares of the company’s stock, valued at $3,098,449.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jerry R. Whitaker acquired 1,000 shares of Sealed Air stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the transaction, the director now directly owns 8,021 shares of the company’s stock, valued at $319,316.01. The disclosure for this purchase can be found here. Insiders have bought 6,600 shares of company stock valued at $262,654 over the last ninety days. 0.63% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.84%. Sealed Air’s dividend payout ratio is currently 35.36%.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
Read More: New Google Finance Tool and Screening Stocks
Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.