Sealed Air Corp (NYSE:SEE) – Jefferies Financial Group reduced their Q4 2019 earnings per share estimates for Sealed Air in a note issued to investors on Wednesday, November 6th. Jefferies Financial Group analyst D. Rizzo now expects that the industrial products company will earn $0.76 per share for the quarter, down from their previous estimate of $0.81. Jefferies Financial Group also issued estimates for Sealed Air’s FY2020 earnings at $3.20 EPS.
Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $0.61 EPS. Sealed Air’s revenue was up 2.7% compared to the same quarter last year.
A number of other brokerages have also recently commented on SEE. Citigroup dropped their price target on Sealed Air from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. ValuEngine cut Sealed Air from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. KeyCorp upgraded Sealed Air from an “underweight” rating to a “sector weight” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Wells Fargo & Co decreased their price objective on Sealed Air from $43.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Sealed Air presently has a consensus rating of “Hold” and a consensus price target of $42.96.
Shares of SEE traded up $1.20 during trading hours on Friday, reaching $40.02. The stock had a trading volume of 1,661,059 shares, compared to its average volume of 1,363,901. Sealed Air has a 12 month low of $32.33 and a 12 month high of $47.13. The stock has a market capitalization of $6.46 billion, a PE ratio of 16.01, a PEG ratio of 1.56 and a beta of 1.07. The company’s 50-day moving average is $41.08 and its two-hundred day moving average is $42.50.
Institutional investors have recently modified their holdings of the business. Motco acquired a new stake in Sealed Air during the 2nd quarter worth about $29,000. Doyle Wealth Management acquired a new stake in Sealed Air during the 2nd quarter worth about $40,000. CSat Investment Advisory L.P. grew its holdings in Sealed Air by 34.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,234 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 314 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in Sealed Air during the 3rd quarter worth about $96,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Sealed Air by 51.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,894 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 983 shares during the period. Hedge funds and other institutional investors own 96.56% of the company’s stock.
In related news, CFO James M. Sullivan acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was acquired at an average cost of $38.75 per share, for a total transaction of $193,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 17,028 shares of the company’s stock, valued at approximately $659,835. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.64 dividend on an annualized basis and a yield of 1.60%. Sealed Air’s payout ratio is 25.60%.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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