Sealed Air Corporation (SEE) Expected to Announce Earnings of $0.46 Per Share
Equities analysts expect that Sealed Air Corporation (NYSE:SEE) will post earnings per share of $0.46 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Sealed Air Corporation’s earnings, with estimates ranging from $0.40 to $0.48. Sealed Air Corporation reported earnings of $0.71 per share during the same quarter last year, which indicates a negative year over year growth rate of 35.2%. The business is expected to announce its next quarterly earnings results before the market opens on Wednesday, November 8th.
On average, analysts expect that Sealed Air Corporation will report full year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.76 to $1.85. For the next year, analysts anticipate that the business will post earnings of $2.43 per share, with EPS estimates ranging from $2.12 to $2.55. Zacks’ EPS calculations are an average based on a survey of research firms that cover Sealed Air Corporation.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share.
Several equities research analysts have issued reports on the company. Bank of America Corporation set a $50.00 price objective on Sealed Air Corporation and gave the stock a “buy” rating in a report on Friday, October 13th. Zacks Investment Research downgraded Sealed Air Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. KeyCorp restated a “hold” rating on shares of Sealed Air Corporation in a report on Monday, October 2nd. Barclays PLC restated an “equal weight” rating and set a $45.00 price objective on shares of Sealed Air Corporation in a report on Tuesday, September 19th. Finally, Jefferies Group LLC restated a “hold” rating and set a $44.00 price objective on shares of Sealed Air Corporation in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Sealed Air Corporation currently has a consensus rating of “Hold” and a consensus target price of $48.50.
Shares of Sealed Air Corporation (NYSE SEE) traded down 0.80% during trading on Monday, reaching $44.86. The company had a trading volume of 1,854,027 shares. The company has a market capitalization of $8.52 billion, a P/E ratio of 23.18 and a beta of 1.17. The firm has a 50-day moving average price of $43.56 and a 200-day moving average price of $44.21. Sealed Air Corporation has a 52-week low of $41.22 and a 52-week high of $50.62.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.43%. Sealed Air Corporation’s payout ratio is 33.16%.
In related news, Director Lawrence R. Codey sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.91, for a total transaction of $150,185.00. Following the completion of the transaction, the director now owns 38,180 shares in the company, valued at approximately $1,638,303.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.05% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SEE. Principal Financial Group Inc. boosted its position in Sealed Air Corporation by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 305,073 shares of the industrial products company’s stock valued at $13,295,000 after purchasing an additional 8,137 shares during the period. FMR LLC boosted its position in Sealed Air Corporation by 73.2% during the 1st quarter. FMR LLC now owns 1,549,870 shares of the industrial products company’s stock valued at $67,543,000 after purchasing an additional 654,872 shares during the period. Teachers Advisors LLC boosted its position in Sealed Air Corporation by 7.8% during the 1st quarter. Teachers Advisors LLC now owns 419,895 shares of the industrial products company’s stock valued at $18,299,000 after purchasing an additional 30,322 shares during the period. Global X Management Co. LLC boosted its position in Sealed Air Corporation by 30.4% during the 1st quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 687 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Sealed Air Corporation by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 838,679 shares of the industrial products company’s stock valued at $36,548,000 after purchasing an additional 27,757 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.
About Sealed Air Corporation
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sealed Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air Corporation and related companies with MarketBeat.com's FREE daily email newsletter.