Zacks: Brokerages Expect Sealed Air Corporation (SEE) Will Post Quarterly Sales of $1.11 Billion
Wall Street brokerages predict that Sealed Air Corporation (NYSE:SEE) will report $1.11 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Sealed Air Corporation’s earnings. The highest sales estimate is $1.12 billion and the lowest is $1.10 billion. Sealed Air Corporation posted sales of $1.72 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 35.5%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, November 8th.
According to Zacks, analysts expect that Sealed Air Corporation will report full-year sales of $1.11 billion for the current year, with estimates ranging from $4.31 billion to $4.39 billion. For the next year, analysts expect that the company will post sales of $4.51 billion per share, with estimates ranging from $4.45 billion to $4.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts 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 analysts’ consensus estimates of $0.36 by ($0.01). Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis.
SEE has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Sealed Air Corporation from a “strong sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a research report on Wednesday, July 12th. BMO Capital Markets reissued a “hold” rating and issued a $47.00 price objective on shares of Sealed Air Corporation in a research report on Thursday, July 20th. BidaskClub lowered shares of Sealed Air Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 price objective on shares of Sealed Air Corporation in a research report on Friday, August 11th. Finally, Robert W. Baird reissued a “buy” rating and issued a $55.00 price objective on shares of Sealed Air Corporation in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.
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In other news, Director Lawrence R. Codey sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $42.91, for a total transaction of $150,185.00. Following the transaction, the director now directly owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.
Several large investors have recently modified their holdings of SEE. Fiduciary Trust Co. purchased a new position in shares of Sealed Air Corporation during the second quarter worth approximately $124,000. Global X Management Co. LLC increased its holdings in Sealed Air Corporation by 30.4% during the first quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock valued at $129,000 after buying an additional 687 shares during the period. Pacer Advisors Inc. increased its holdings in Sealed Air Corporation by 8.1% during the second quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after buying an additional 322 shares during the period. FNY Partners Fund LP purchased a new position in Sealed Air Corporation during the first quarter valued at approximately $196,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Sealed Air Corporation during the second quarter valued at approximately $201,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.
Sealed Air Corporation (NYSE:SEE) opened at 44.56 on Wednesday. The company’s 50-day moving average price is $43.58 and its 200-day moving average price is $44.26. Sealed Air Corporation has a one year low of $41.22 and a one year high of $50.62. The stock has a market cap of $8.47 billion, a P/E ratio of 23.03 and a beta of 1.17.
The business 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 dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, November 30th. Sealed Air Corporation’s dividend payout ratio (DPR) is presently 33.16%.
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.
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