Sealed Air Corp Earns “Neutral” Rating from Zacks (SEE)
Sealed Air Corp (NYSE:SEE)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday. They currently have a $38.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 6.12% from the company’s current price.
Zacks’ analyst wrote, “Sealed Air reported a 20% year-over-year increase in its adjusted earnings per share to $0.42 in the second quarter of 2014. For 2014, Sealed Air expects net sales to be approximately $7.75 billion and adjusted earnings per share in the range of $1.65 to $1.70. Sealed Air will benefit from the relocation of its global headquarters which will drive operating efficiencies. Further, increased focus on cost reduction, new product introductions, price hikes and acquisitions will drive growth. However worsening slaughter rate poses concern for the Food Care segment. Moreover, economic uncertainty, unfavorable foreign currency translation and volatility in raw material price remain headwinds. Thus, we maintained our Neutral recommendation on Sealed Air, with a target price of $38.00.”
In other Sealed Air Corp news, Director Kenneth P. Manning purchased 5,000 shares of Sealed Air Corp stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $33.39 per share, for a total transaction of $166,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on SEE. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sealed Air Corp in a research note on Tuesday, August 5th. They now have a $33.00 price target on the stock, down previously from $35.00. 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Sealed Air Corp has a consensus rating of “Hold” and a consensus target price of $36.00.
Sealed Air Corp (NYSE:SEE) traded up 1.06% during mid-day trading on Friday, hitting $36.19. 1,786,191 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 has a 50-day moving average of $33. and a 200-day moving average of $32.99. The company has a market cap of $7.673 billion and a P/E ratio of 39.14.
Sealed Air Corp (NYSE:SEE) last released its earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that Sealed Air Corp will post $1.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, September 3rd.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business.
To view Zacks’ full report, visit Zacks’ official website.
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