Brokerages predict that Sealed Air Corp (NYSE:SEE) will announce sales of $1.11 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Sealed Air’s earnings, with the lowest sales estimate coming in at $745.00 million and the highest estimate coming in at $1.25 billion. Sealed Air reported sales of $1.23 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 9.8%. The company is expected to announce its next quarterly earnings report on Thursday, February 14th.
On average, analysts expect that Sealed Air will report full-year sales of $4.72 billion for the current fiscal year, with estimates ranging from $4.68 billion to $4.79 billion. For the next fiscal year, analysts anticipate that the business will report sales of $4.82 billion, with estimates ranging from $4.65 billion to $4.94 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Sealed Air.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Sealed Air had a negative return on equity of 150.20% and a negative net margin of 0.87%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share.
SEE has been the subject of several recent analyst reports. Bank of America downgraded Sealed Air from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Thursday, October 18th. ValuEngine downgraded Sealed Air from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Zacks Investment Research downgraded Sealed Air from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Barclays decreased their target price on Sealed Air from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, October 22nd. Finally, UBS Group set a $47.00 target price on Sealed Air and gave the stock a “buy” rating in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Sealed Air by 26.4% in the third quarter. Bank of New York Mellon Corp now owns 3,068,358 shares of the industrial products company’s stock valued at $123,195,000 after acquiring an additional 640,351 shares during the period. Wells Fargo & Company MN lifted its holdings in Sealed Air by 9.4% in the third quarter. Wells Fargo & Company MN now owns 7,038,909 shares of the industrial products company’s stock valued at $282,613,000 after acquiring an additional 606,062 shares during the period. Vanguard Group Inc. lifted its holdings in Sealed Air by 3.2% in the third quarter. Vanguard Group Inc. now owns 18,025,501 shares of the industrial products company’s stock valued at $723,724,000 after acquiring an additional 558,305 shares during the period. American Century Companies Inc. lifted its holdings in Sealed Air by 43.8% in the second quarter. American Century Companies Inc. now owns 1,316,525 shares of the industrial products company’s stock valued at $55,886,000 after acquiring an additional 401,096 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Sealed Air by 35.6% in the second quarter. Victory Capital Management Inc. now owns 1,427,017 shares of the industrial products company’s stock valued at $60,577,000 after acquiring an additional 374,733 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.
NYSE SEE traded down $0.44 during trading on Monday, hitting $37.02. The company’s stock had a trading volume of 2,412,300 shares, compared to its average volume of 2,067,568. The company has a market cap of $5.88 billion, a PE ratio of 20.45, a P/E/G ratio of 1.32 and a beta of 1.24. Sealed Air has a fifty-two week low of $30.22 and a fifty-two week high of $49.94.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, December 6th. Sealed Air’s dividend payout ratio (DPR) is 35.36%.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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