Sealed Air Corp. (SEE) Shares Gap Up to $47.50
Sealed Air Corp. (NYSE:SEE) shares gapped up prior to trading on Friday . The stock had previously closed at $47.14, but opened at $47.50. Sealed Air Corp. shares last traded at $48.54, with a volume of 1,280,719 shares changing hands.
A number of analysts recently commented on SEE shares. Zacks Investment Research lowered Sealed Air Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $59.00 price objective on shares of Sealed Air Corp. in a research note on Wednesday, June 1st. SunTrust Banks Inc. started coverage on Sealed Air Corp. in a research note on Tuesday, July 12th. They set a “buy” rating and a $54.00 price objective on the stock. Citigroup Inc. raised Sealed Air Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $54.00 to $56.00 in a research note on Friday, July 15th. Finally, Jefferies Group increased their price objective on Sealed Air Corp. from $45.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, July 14th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $53.82.
The stock has a market cap of $9.56 billion and a P/E ratio of 27.71. The company has a 50-day moving average price of $47.45 and a 200-day moving average price of $47.28.
Sealed Air Corp. (NYSE:SEE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The firm earned $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Analysts anticipate that Sealed Air Corp. will post $2.60 earnings per share for the current year.
The company also recently disclosed 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, August 31st.
A hedge fund recently raised its stake in Sealed Air Corp. stock. Ameriprise Financial Inc. increased its position in Sealed Air Corp. (NYSE:SEE) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,260,477 shares of the company’s stock after buying an additional 159,397 shares during the period. Ameriprise Financial Inc. owned about 0.64% of Sealed Air Corp. worth $56,219,000 as of its most recent SEC filing.
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.
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