Wall Street brokerages expect Sealed Air Corp (NYSE:SEE) to post $1.19 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Sealed Air’s earnings. The highest sales estimate is $1.21 billion and the lowest is $1.17 billion. Sealed Air posted sales of $1.13 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 14th.

On average, analysts expect that Sealed Air will report full-year sales of $4.76 billion for the current year, with estimates ranging from $4.73 billion to $4.78 billion. For the next year, analysts expect that the business will report sales of $4.92 billion, with estimates ranging from $4.89 billion to $4.99 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Sealed Air.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. Sealed Air had a return on equity of 859.42% and a net margin of 14.37%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business posted $0.34 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year.

A number of brokerages recently issued reports on SEE. Citigroup lowered their price objective on Sealed Air from $47.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday. Zacks Investment Research cut Sealed Air from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. ValuEngine cut Sealed Air from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Barclays lowered their price objective on Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 9th. Finally, KeyCorp restated a “hold” rating on shares of Sealed Air in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Sealed Air presently has an average rating of “Hold” and an average price target of $49.20.

Sealed Air stock traded down $0.16 during midday trading on Monday, reaching $34.78. The stock had a trading volume of 2,645,675 shares, compared to its average volume of 1,954,970. Sealed Air has a 12 month low of $34.43 and a 12 month high of $49.94. The stock has a market capitalization of $6.38 billion, a P/E ratio of 19.22, a P/E/G ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of -8.64, a quick ratio of 0.69 and a current ratio of 1.11.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, December 6th. Sealed Air’s dividend payout ratio is presently 35.36%.

In related news, insider Edward L. Doheny II purchased 5,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were purchased at an average cost of $39.65 per share, for a total transaction of $198,250.00. Following the completion of the transaction, the insider now directly owns 78,145 shares in the company, valued at approximately $3,098,449.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerry R. Whitaker purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were bought at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the transaction, the director now owns 8,021 shares of the company’s stock, valued at $319,316.01. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,600 shares of company stock worth $262,654. Company insiders own 0.63% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its position in Sealed Air by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 196,956 shares of the industrial products company’s stock worth $7,908,000 after purchasing an additional 113,334 shares during the period. Busey Trust CO increased its position in Sealed Air by 5.0% during the 3rd quarter. Busey Trust CO now owns 86,214 shares of the industrial products company’s stock worth $3,461,000 after purchasing an additional 4,080 shares during the period. Manning & Napier Group LLC boosted its stake in shares of Sealed Air by 2.4% during the 3rd quarter. Manning & Napier Group LLC now owns 2,555,495 shares of the industrial products company’s stock worth $102,602,000 after acquiring an additional 59,445 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Sealed Air by 3.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 45,897 shares of the industrial products company’s stock worth $1,841,000 after acquiring an additional 1,520 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Sealed Air during the 3rd quarter worth approximately $180,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.

About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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