Citigroup Inc. Reaffirms Buy Rating for Sealed Air Corp. (SEE)
Sealed Air Corp. (NYSE:SEE)‘s stock had its “buy” rating reissued by research analysts at Citigroup Inc. in a report released on Monday. They presently have a $55.00 target price on the stock. Citigroup Inc.’s price objective would indicate a potential upside of 23.26% from the company’s previous close.
SEE has been the topic of several other research reports. Zacks Investment Research cut shares of Sealed Air Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. JPMorgan Chase & Co. assumed coverage on shares of Sealed Air Corp. in a report on Tuesday, September 13th. They set a “neutral” rating and a $53.00 target price on the stock. Credit Suisse Group AG restated an “outperform” rating and set a $59.00 target price on shares of Sealed Air Corp. in a report on Thursday, September 8th. Robert W. Baird restated an “outperform” rating on shares of Sealed Air Corp. in a report on Sunday, September 25th. Finally, SunTrust Banks Inc. assumed coverage on shares of Sealed Air Corp. in a report on Tuesday, July 12th. They set a “buy” rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.33.
Sealed Air Corp. (NYSE:SEE) opened at 44.62 on Monday. The company’s 50-day moving average is $46.03 and its 200 day moving average is $47.24. Sealed Air Corp. has a 52-week low of $38.02 and a 52-week high of $52.83. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 25.44 and a beta of 1.22.
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Sealed Air Corp. (NYSE:SEE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Sealed Air Corp. had a net margin of 5.16% and a return on equity of 98.51%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Equities analysts forecast that Sealed Air Corp. will post $2.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 30th. Sealed Air Corp.’s dividend payout ratio (DPR) is 36.57%.
A number of institutional investors have recently modified their holdings of SEE. Checchi Capital Advisers LLC raised its position in shares of Sealed Air Corp. by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,335 shares of the company’s stock worth $107,000 after buying an additional 21 shares during the period. Seven Eight Capital LLC raised its position in shares of Sealed Air Corp. by 8.9% in the second quarter. Seven Eight Capital LLC now owns 2,443 shares of the company’s stock worth $112,000 after buying an additional 200 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in shares of Sealed Air Corp. by 128.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,730 shares of the company’s stock worth $125,000 after buying an additional 1,534 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Sealed Air Corp. during the first quarter worth $132,000. Finally, Johnson Financial Group Inc. raised its position in shares of Sealed Air Corp. by 18,782.4% in the second quarter. Johnson Financial Group Inc. now owns 3,210 shares of the company’s stock worth $148,000 after buying an additional 3,193 shares during the period. 89.21% of the stock is owned by institutional investors and hedge funds.
Sealed Air Corp. Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing processors, retailers and food service operators a range of integrated system solutions.
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