Brokerages forecast that Sealed Air Corporation (NYSE:SEE) will announce sales of $1.15 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Sealed Air Corporation’s earnings, with estimates ranging from $1.14 billion to $1.17 billion. Sealed Air Corporation reported sales of $1.74 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 33.9%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Sealed Air Corporation will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $4.31 billion to $4.34 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.51 billion per share, with estimates ranging from $4.45 billion to $4.58 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Sealed Air Corporation.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Sealed Air Corporation had a return on equity of 67.60% and a net margin of 20.15%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS.
Several equities research analysts recently issued reports on SEE shares. Zacks Investment Research cut Sealed Air Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 price objective on shares of Sealed Air Corporation in a report on Friday, September 1st. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 price objective on shares of Sealed Air Corporation in a report on Thursday, July 20th. BidaskClub upgraded Sealed Air Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price objective on shares of Sealed Air Corporation in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Sealed Air Corporation has an average rating of “Hold” and an average target price of $48.75.
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In other Sealed Air Corporation news, Director Lawrence R. Codey sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the sale, the director now owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.05% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its position in Sealed Air Corporation by 12.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 28,229 shares of the industrial products company’s stock valued at $1,205,000 after purchasing an additional 3,026 shares during the period. Engineers Gate Manager LP purchased a new stake in Sealed Air Corporation in the third quarter valued at approximately $3,391,000. OxFORD Asset Management LLP raised its position in Sealed Air Corporation by 105.1% in the third quarter. OxFORD Asset Management LLP now owns 365,041 shares of the industrial products company’s stock valued at $15,605,000 after purchasing an additional 187,051 shares during the period. KBC Group NV raised its position in Sealed Air Corporation by 12.4% in the third quarter. KBC Group NV now owns 27,043 shares of the industrial products company’s stock valued at $1,155,000 after purchasing an additional 2,974 shares during the period. Finally, BB&T Securities LLC raised its position in Sealed Air Corporation by 21.5% in the third quarter. BB&T Securities LLC now owns 34,601 shares of the industrial products company’s stock valued at $1,478,000 after purchasing an additional 6,112 shares during the period. 91.71% of the stock is currently owned by institutional investors.
Shares of Sealed Air Corporation (NYSE SEE) opened at $44.98 on Tuesday. Sealed Air Corporation has a 12-month low of $41.22 and a 12-month high of $50.62. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.34 and a current ratio of 1.70. The company has a market capitalization of $10,200.34, a PE ratio of 22.17, a PEG ratio of 6.17 and a beta of 1.21.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 30th. Sealed Air Corporation’s payout ratio is presently 12.19%.
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 (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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