Sealed Air Corp (NYSE:SEE) – Gabelli decreased their FY2018 earnings per share (EPS) estimates for Sealed Air in a report released on Tuesday. Gabelli analyst R. Morbelli now forecasts that the industrial products company will earn $2.38 per share for the year, down from their previous forecast of $2.50. Gabelli also issued estimates for Sealed Air’s FY2019 earnings at $2.70 EPS, FY2020 earnings at $3.05 EPS and FY2021 earnings at $3.40 EPS.
Several other research analysts have also recently issued reports on SEE. KeyCorp reiterated a “hold” rating on shares of Sealed Air in a research report on Friday, February 9th. JPMorgan Chase & Co. cut their price objective on Sealed Air from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. Zacks Investment Research cut Sealed Air from a “hold” rating to a “sell” rating in a research report on Wednesday. Vertical Research upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Monday. Finally, TheStreet cut Sealed Air from a “b” rating to a “c” rating in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.31.
Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Sealed Air had a return on equity of 74.28% and a net margin of 17.90%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of SEE. Thrivent Financial For Lutherans grew its holdings in Sealed Air by 3.9% in the second quarter. Thrivent Financial For Lutherans now owns 7,422 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 280 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sealed Air by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 858,823 shares of the industrial products company’s stock valued at $38,442,000 after acquiring an additional 20,144 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Sealed Air by 10.8% during the second quarter. HighTower Advisors LLC now owns 7,859 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 769 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Sealed Air by 13.0% during the second quarter. The Manufacturers Life Insurance Company now owns 220,498 shares of the industrial products company’s stock valued at $9,870,000 after acquiring an additional 25,389 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Sealed Air by 5.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 33,024 shares of the industrial products company’s stock valued at $1,478,000 after acquiring an additional 1,619 shares during the last quarter. 90.31% of the stock is currently owned by institutional investors.
In other Sealed Air news, SVP Emile Z. Chammas sold 6,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $271,440.00. Following the sale, the senior vice president now owns 142,077 shares of the company’s stock, valued at $6,427,563.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William G. Stiehl sold 3,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $48.98, for a total value of $146,940.00. Following the completion of the sale, the chief financial officer now directly owns 34,797 shares in the company, valued at approximately $1,704,357.06. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.
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About Sealed Air
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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