Sealed Air Corp. (SEE) Shares Gap Down to $47.50
Sealed Air Corp. (NYSE:SEE) shares gapped down before the market opened on Monday . The stock had previously closed at $47.14, but opened at $47.50. Sealed Air Corp. shares last traded at $48.60, with a volume of 2,136,800 shares.
A number of research analysts have commented on the company. Zacks Investment Research raised Sealed Air Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Sealed Air Corp. in a report on Wednesday, June 1st. SunTrust Banks Inc. assumed 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. BMO Capital Markets reaffirmed a “hold” rating on shares of Sealed Air Corp. in a report on Sunday, July 17th. Finally, Citigroup Inc. raised Sealed Air Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $56.00 in a report on Friday, July 15th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $53.82.
The firm has a market capitalization of $9.56 billion and a price-to-earnings ratio of 27.71. The firm has a 50 day moving average of $47.49 and a 200 day moving average of $47.29.
Sealed Air Corp. (NYSE:SEE) last issued its quarterly earnings results 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 business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. Analysts predict that Sealed Air Corp. will post $2.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%.
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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