Citigroup Inc. Reiterates “Neutral” Rating for Sealed Air Corp (SEE)
Sealed Air Corp (NYSE:SEE)‘s stock had its “neutral” rating restated by Citigroup Inc. in a research note issued on Tuesday. They currently have a $33.00 target price on the stock, down from their previous target price of $35.00. Citigroup Inc.’s price target points to a potential upside of 0.03% from the company’s current price.
Sealed Air Corp (NYSE:SEE) traded down 1.09% on Tuesday, hitting $32.63. 886,575 shares of the company’s stock traded hands. Sealed Air Corp has a one year low of $26.13 and a one year high of $37.20. The stock’s 50-day moving average is $33.46 and its 200-day moving average is $32.79. The company has a market cap of $6.967 billion and a P/E ratio of 36.05.
Sealed Air Corp (NYSE:SEE) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.03. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company posted $0.35 earnings per share. Sealed Air Corp’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that Sealed Air Corp will post $1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Separately, analysts at Bank of America reiterated a “buy” rating on shares of Sealed Air Corp in a research note on Thursday, July 31st. They now have a $40.00 price target on the stock, up previously from $38.00. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $35.00.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business.
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