Brokers Set Expectations for Sealed Air Corp’s Q1 2017 Earnings (SEE)
Sealed Air Corp (NYSE:SEE) – Investment analysts at Jefferies Group cut their Q1 2017 earnings per share (EPS) estimates for Sealed Air Corp in a report issued on Tuesday. Jefferies Group analyst P. Ng now forecasts that the industrial products company will post earnings per share of $0.48 for the quarter, down from their prior forecast of $0.49. Jefferies Group has a “Hold” rating and a $45.00 price target on the stock. Jefferies Group also issued estimates for Sealed Air Corp’s Q2 2017 earnings at $0.68 EPS, FY2017 earnings at $2.72 EPS and FY2018 earnings at $3.07 EPS.
Sealed Air Corp (NYSE:SEE) last announced its quarterly earnings results on Thursday, February 9th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.79 billion. Sealed Air Corp had a net margin of 7.02% and a return on equity of 89.29%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS.
A number of other equities research analysts have also commented on SEE. Zacks Investment Research lowered Sealed Air Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th. KeyCorp reiterated a “hold” rating on shares of Sealed Air Corp in a research report on Friday, February 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of Sealed Air Corp in a research report on Tuesday, March 21st. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 target price (down previously from $50.00) on shares of Sealed Air Corp in a research report on Tuesday, March 28th. Finally, Goldman Sachs Group Inc lowered Sealed Air Corp from a “conviction-buy” rating to a “buy” rating and dropped their target price for the company from $53.00 to $50.00 in a research report on Tuesday, April 4th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $51.56.
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Shares of Sealed Air Corp (NYSE:SEE) opened at 43.54 on Thursday. The stock has a market cap of $8.42 billion, a P/E ratio of 17.70 and a beta of 1.27. Sealed Air Corp has a one year low of $42.01 and a one year high of $52.83. The stock’s 50 day moving average is $44.38 and its 200-day moving average is $46.17.
A number of large investors have recently added to or reduced their stakes in SEE. CIBC Asset Management Inc raised its stake in Sealed Air Corp by 12.3% in the third quarter. CIBC Asset Management Inc now owns 25,073 shares of the industrial products company’s stock valued at $1,149,000 after buying an additional 2,755 shares in the last quarter. Conning Inc. raised its stake in Sealed Air Corp by 5.6% in the third quarter. Conning Inc. now owns 4,904 shares of the industrial products company’s stock valued at $225,000 after buying an additional 260 shares in the last quarter. Baker Ellis Asset Management LLC bought a new stake in Sealed Air Corp during the third quarter valued at approximately $2,221,000. Great West Life Assurance Co. Can raised its stake in Sealed Air Corp by 4.1% in the third quarter. Great West Life Assurance Co. Can now owns 180,063 shares of the industrial products company’s stock valued at $8,246,000 after buying an additional 7,128 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Sealed Air Corp by 1.5% in the third quarter. World Asset Management Inc now owns 19,561 shares of the industrial products company’s stock valued at $896,000 after buying an additional 294 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.
About Sealed Air Corp
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 a range of integrated system solutions.
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