Sealed Air Corp. (SEE) Rating Lowered to Sell at Zacks Investment Research
Sealed Air Corp. (NYSE:SEE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “For 2016, Sealed Air reiterated its net sales guidance of approximately $6.85 billion. The impact from the Food Care divestitures on 2016 net sales is $102 million, of which $82 million hurt the first half of the year. The company anticipates that the recent geopolitical events in Europe and the Middle East to have an effect on its business in the coming months. In addtion, increased R&D, sales and marketing expenses and weak resin prices will affect the company's margins in the near term.”
A number of other analysts have also recently weighed in on SEE. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $59.00 target price on shares of Sealed Air Corp. in a research note on Wednesday, June 1st. SunTrust Banks Inc. started coverage on shares of Sealed Air Corp. in a research note on Tuesday, July 12th. They issued a “buy” rating and a $54.00 target price on the stock. Jefferies Group upped their price objective on shares of Sealed Air Corp. from $45.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Citigroup Inc. raised shares of Sealed Air Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $54.00 to $56.00 in a research note on Friday, July 15th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Sealed Air Corp. in a research note on Sunday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Sealed Air Corp. has an average rating of “Buy” and a consensus target price of $53.42.
Shares of Sealed Air Corp. (NYSE:SEE) opened at 45.82 on Thursday. The company has a market cap of $9.01 billion, a PE ratio of 26.12 and a beta of 1.23. Sealed Air Corp. has a one year low of $38.02 and a one year high of $52.83. The company’s 50-day moving average price is $46.65 and its 200 day moving average price is $47.42.
Sealed Air Corp. (NYSE:SEE) last posted its earnings results on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Sealed Air Corp. had a net margin of 5.16% and a return on equity of 98.51%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities analysts forecast that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.16 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 1.40%. Sealed Air Corp.’s dividend payout ratio is currently 36.57%.
A number of institutional investors have recently made changes to their positions in SEE. Boston Partners acquired a new position in shares of Sealed Air Corp. during the second quarter valued at $275,038,000. Janus Capital Management LLC raised its position in shares of Sealed Air Corp. by 26.4% in the second quarter. Janus Capital Management LLC now owns 4,036,401 shares of the company’s stock valued at $185,553,000 after buying an additional 843,167 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Sealed Air Corp. by 5.3% in the first quarter. JPMorgan Chase & Co. now owns 3,771,819 shares of the company’s stock valued at $181,084,000 after buying an additional 188,154 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Sealed Air Corp. by 2.6% in the second quarter. BlackRock Fund Advisors now owns 3,233,880 shares of the company’s stock valued at $148,661,000 after buying an additional 81,490 shares in the last quarter. Finally, RS Investment Management Co. LLC raised its position in shares of Sealed Air Corp. by 1.7% in the second quarter. RS Investment Management Co. LLC now owns 2,904,283 shares of the company’s stock valued at $133,510,000 after buying an additional 48,140 shares in the last quarter. Institutional investors and hedge funds own 89.21% of the company’s stock.
About Sealed Air Corp.
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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