FY2017 EPS Estimates for Sealed Air Corporation Lifted by Analyst (SEE)
Sealed Air Corporation (NYSE:SEE) – Research analysts at Gabelli increased their FY2017 earnings per share (EPS) estimates for Sealed Air in a note issued to investors on Tuesday. Gabelli analyst R. Morbelli now anticipates that the industrial products company will post earnings of $1.78 per share for the year, up from their previous forecast of $1.77.
Sealed Air (NYSE:SEE) last released its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Sealed Air had a net margin of 20.15% and a return on equity of 67.60%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis.
A number of other research firms also recently commented on SEE. TheStreet upgraded shares of Sealed Air from a “c+” rating to a “b-” rating in a report on Thursday, November 30th. SunTrust Banks reiterated a “buy” rating and issued a $49.00 target price on shares of Sealed Air in a report on Friday, November 17th. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 target price on shares of Sealed Air in a report on Sunday, August 27th. Royal Bank Of Canada restated a “hold” rating and set a $47.00 price target on shares of Sealed Air in a report on Thursday, November 9th. Finally, Barclays boosted their price target on shares of Sealed Air from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $48.83.
Shares of Sealed Air (SEE) opened at $47.96 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 4.23. Sealed Air has a fifty-two week low of $41.22 and a fifty-two week high of $50.62. The company has a market cap of $8,656.74, a P/E ratio of 24.00, a P/E/G ratio of 6.65 and a beta of 1.23.
A number of institutional investors have recently added to or reduced their stakes in SEE. Fiduciary Trust Co. acquired a new position in Sealed Air in the 2nd quarter valued at approximately $124,000. Massey Quick Simon & CO. LLC acquired a new position in Sealed Air in the 3rd quarter valued at approximately $140,000. Global X Management Co. LLC increased its stake in Sealed Air by 23.7% in the 2nd quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock valued at $163,000 after buying an additional 699 shares during the period. Pacer Advisors Inc. increased its stake in Sealed Air by 8.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after buying an additional 322 shares during the period. Finally, King Luther Capital Management Corp acquired a new position in Sealed Air in the 2nd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.
In other news, Director Lawrence R. Codey sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $42.91, for a total transaction of $150,185.00. Following the sale, the director now owns 38,180 shares in the company, valued at $1,638,303.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Emile Z. Chammas sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $271,440.00. Following the sale, the senior vice president now owns 142,077 shares in the company, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. 1.05% of the stock is owned by insiders.
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 issued a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.33%. Sealed Air’s dividend payout ratio is currently 12.19%.
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About Sealed Air
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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