Sealed Air Corporation (SEE) Downgraded by Zacks Investment Research
According to Zacks, “Sealed Air’s bottom-line remained flat year over year but beat the Zacks Consensus Estimate. Total revenue dipped 0.6% but missed the Zacks Consensus Estimate. Sealed Air’s guidance for 2017 has come in lower than expected due to unfavorable impact of currency and weaker–than-anticipated growth in the Diversey Care segment owing to the brand licensing expiration with SC Johnson. For 2017, Sealed Air projects organic revenue growth of 2.5%, adjusted EBITDA of $1.18 billion and adjusted earnings per share to be around $2.70. The company’s results will continue to be affected by weakness in industrial-based businesses. Sealed Air continues to invest in R&D, sales and marketing. Even though these investments will drive future growth it will affect margins in the near term. Further, the company’s shares have underperformed the Zacks categorized sub industry.”
Several other equities research analysts also recently commented on SEE. Jefferies Group LLC lowered their target price on shares of Sealed Air Corporation to $45.00 in a research note on Friday, February 10th. Citigroup Inc. reissued a buy rating and set a $55.00 price objective on shares of Sealed Air Corporation in a research report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $53.10.
Sealed Air Corporation (NYSE:SEE) opened at 47.91 on Tuesday. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 19.48 and a beta of 1.27. The firm’s 50-day moving average is $48.13 and its 200-day moving average is $46.71. Sealed Air Corporation has a 52-week low of $42.01 and a 52-week high of $52.83.
Sealed Air Corporation (NYSE:SEE) last issued its earnings results on Thursday, February 9th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Sealed Air Corporation had a net margin of 7.02% and a return on equity of 89.29%. The firm earned $1.70 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. Analysts forecast that Sealed Air Corporation will post $2.76 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, March 3rd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, February 28th. Sealed Air Corporation’s dividend payout ratio is 26.56%.
Several large investors have recently modified their holdings of the company. Janus Capital Management LLC increased its stake in shares of Sealed Air Corporation by 24.5% in the fourth quarter. Janus Capital Management LLC now owns 9,236,910 shares of the company’s stock valued at $418,937,000 after buying an additional 1,817,818 shares in the last quarter. State Street Corp increased its stake in shares of Sealed Air Corporation by 6.1% in the fourth quarter. State Street Corp now owns 8,773,022 shares of the company’s stock valued at $397,771,000 after buying an additional 501,800 shares in the last quarter. Boston Partners increased its stake in shares of Sealed Air Corporation by 29.7% in the third quarter. Boston Partners now owns 7,762,919 shares of the company’s stock valued at $355,697,000 after buying an additional 1,779,909 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Sealed Air Corporation by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,673,413 shares of the company’s stock valued at $259,956,000 after buying an additional 65,629 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Sealed Air Corporation by 2.5% in the third quarter. BlackRock Fund Advisors now owns 3,314,276 shares of the company’s stock valued at $151,860,000 after buying an additional 80,396 shares in the last quarter. 89.74% of the stock is owned by institutional investors.
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 processors, retailers and food service operators a range of integrated system solutions.
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