Sealed Air Corporation (NYSE:SEE) Releases FY17 Earnings Guidance
Sealed Air Corporation (NYSE:SEE) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.75-1.80 for the period, compared to the Thomson Reuters consensus estimate of $1.79. The company issued revenue guidance of $4.3 billion, compared to the consensus revenue estimate of $4.33 billion.
Several research firms have commented on SEE. Jefferies Group LLC cut their price objective on Sealed Air Corporation from $45.00 to $40.00 and set a hold rating for the company in a research note on Wednesday, May 10th. UBS AG set a $49.00 price objective on Sealed Air Corporation and gave the stock a buy rating in a research note on Wednesday, May 10th. Zacks Investment Research upgraded Sealed Air Corporation from a strong sell rating to a hold rating and set a $52.00 price objective for the company in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a hold rating and set a $44.00 price objective on shares of Sealed Air Corporation in a research note on Tuesday, June 13th. Finally, BMO Capital Markets reiterated a hold rating and set a $47.00 price objective on shares of Sealed Air Corporation in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Sealed Air Corporation currently has an average rating of Hold and a consensus target price of $48.91.
Sealed Air Corporation (SEE) opened at 43.86 on Tuesday. Sealed Air Corporation has a one year low of $41.74 and a one year high of $50.62. The firm has a market capitalization of $8.59 billion, a PE ratio of 25.21 and a beta of 1.16. The stock’s 50 day moving average price is $45.15 and its 200 day moving average price is $45.37.
Sealed Air Corporation (NYSE:SEE) last issued its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. Sealed Air Corporation had a return on equity of 85.72% and a net margin of 5.48%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Sealed Air Corporation will post $1.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.46%. Sealed Air Corporation’s dividend payout ratio (DPR) is 36.99%.
In other Sealed Air Corporation news, insider Jerome A. Peribere acquired 6,960 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was acquired at an average cost of $42.97 per share, with a total value of $299,071.20. Following the purchase, the insider now directly owns 199,000 shares in the company, valued at approximately $8,551,030. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William G. Stiehl sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $43.43, for a total transaction of $130,290.00. Following the transaction, the chief accounting officer now directly owns 37,797 shares of the company’s stock, valued at $1,641,523.71. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
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Sealed Air Corporation 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 a range of integrated system solutions.
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