Zacks: Brokerages Expect Sealed Air Corporation (NYSE:SEE) Will Post Quarterly Sales of $1.10 Billion
Equities research analysts expect that Sealed Air Corporation (NYSE:SEE) will post sales of $1.10 billion for the current quarter, Zacks reports. Six analysts have issued estimates for Sealed Air Corporation’s earnings. The lowest sales estimate is $1.09 billion and the highest is $1.11 billion. Sealed Air Corporation posted sales of $1.72 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 36%. The business is expected to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Sealed Air Corporation will report full year sales of $1.10 billion for the current financial year, with estimates ranging from $4.30 billion to $4.35 billion. For the next financial year, analysts forecast that the company will post sales of $4.47 billion per share, with estimates ranging from $4.43 billion to $4.52 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Sealed Air Corporation.
Sealed Air Corporation (NYSE:SEE) last released its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year.
Several research firms have recently weighed in on SEE. UBS AG set a $49.00 price objective on Sealed Air Corporation and gave the company a “buy” rating in a research note on Wednesday, May 10th. BidaskClub upgraded Sealed Air Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price objective on shares of Sealed Air Corporation in a research note on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price objective on shares of Sealed Air Corporation in a research note on Friday, June 9th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $55.00 price objective on shares of Sealed Air Corporation in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $49.27.
In related news, CAO William G. Stiehl sold 3,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $43.43, for a total transaction of $130,290.00. Following the sale, the chief accounting officer now directly owns 37,797 shares in the company, valued at approximately $1,641,523.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Assetmark Inc. raised its stake in Sealed Air Corporation by 1.0% in the first quarter. Assetmark Inc. now owns 2,444 shares of the industrial products company’s stock worth $107,000 after buying an additional 25 shares during the period. TrimTabs Asset Management LLC acquired a new stake in Sealed Air Corporation during the first quarter worth approximately $109,000. Fiduciary Trust Co. purchased a new position in shares of Sealed Air Corporation during the second quarter worth approximately $124,000. Global X Management Co. LLC raised its position in shares of Sealed Air Corporation by 30.4% in the first quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock worth $129,000 after buying an additional 687 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Sealed Air Corporation by 0.8% in the first quarter. CENTRAL TRUST Co now owns 3,830 shares of the industrial products company’s stock worth $167,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.
Sealed Air Corporation (NYSE:SEE) opened at 44.18 on Friday. The company’s 50-day moving average price is $44.91 and its 200-day moving average price is $45.19. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 22.83 and a beta of 1.16. Sealed Air Corporation has a 52-week low of $41.74 and a 52-week high of $50.62.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.45%. Sealed Air Corporation’s dividend payout ratio (DPR) is presently 33.16%.
About Sealed Air Corporation
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 a range of integrated system solutions.
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