Sealed Air Corp. (SEE) Shares Gap Up to $46.88
Sealed Air Corp. (NYSE:SEE) gapped up prior to trading on Tuesday . The stock had previously closed at $46.34, but opened at $46.88. Sealed Air Corp. shares last traded at $47.48, with a volume of 758,997 shares changing hands.
A number of equities research analysts have weighed in on SEE shares. Jefferies Group reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Sealed Air Corp. in a report on Friday, April 29th. Zacks Investment Research lowered Sealed Air Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Goldman Sachs Group Inc. started coverage on Sealed Air Corp. in a report on Thursday, May 12th. They issued a “buy” rating and a $59.00 price objective on the stock. SunTrust Banks Inc. started coverage on Sealed Air Corp. in a report on Tuesday, July 12th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Citigroup Inc. raised Sealed Air Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $56.00 in a report on Friday, July 15th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $53.82.
The company has a 50 day moving average of $47.44 and a 200 day moving average of $47.09. The stock has a market cap of $9.44 billion and a price-to-earnings ratio of 27.37.
Sealed Air Corp. (NYSE:SEE) last issued its earnings results on Thursday, July 28th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. During the same quarter last year, the company posted $0.60 EPS. The company earned $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Sealed Air Corp. will post $2.60 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a $0.16 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%.
A number of large investors have added to or reduced their stakes in the company. KBC Group NV raised its stake in Sealed Air Corp. by 452.3% in the fourth quarter. KBC Group NV now owns 119,191 shares of the company’s stock valued at $5,316,000 after buying an additional 97,609 shares during the period. Advisors Asset Management Inc. raised its stake in Sealed Air Corp. by 19.3% in the fourth quarter. Advisors Asset Management Inc. now owns 37,242 shares of the company’s stock valued at $1,661,000 after buying an additional 6,032 shares during the period. Suntrust Banks Inc. raised its stake in Sealed Air Corp. by 17.0% in the fourth quarter. Suntrust Banks Inc. now owns 28,213 shares of the company’s stock valued at $1,257,000 after buying an additional 4,094 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Sealed Air Corp. during the fourth quarter valued at $1,022,000.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing processors, retailers and food service operators a range of integrated system solutions.