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 traded.
SEE has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Sealed Air Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. BMO Capital Markets reiterated a “hold” rating and issued a $50.00 price objective on shares of Sealed Air Corp. in a research note on Friday, July 29th. Jefferies Group lowered their price objective on shares of Sealed Air Corp. from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, July 29th. Goldman Sachs Group Inc. started coverage on shares of Sealed Air Corp. in a research note on Thursday, May 12th. They issued a “buy” rating and a $59.00 price objective for the company. Finally, Citigroup Inc. upgraded shares of 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 research note on Friday, July 15th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $53.82.
The firm has a 50-day moving average price of $47.49 and a 200 day moving average price of $47.29. The company has a market cap of $9.56 billion and a P/E ratio of 27.71.
Sealed Air Corp. (NYSE:SEE) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. On average, analysts predict that Sealed Air Corp. will post $2.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, August 31st.
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.