Brokerages forecast that Sealed Air Corp (NYSE:SEE) will post sales of $1.19 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Sealed Air’s earnings, with estimates ranging from $1.17 billion to $1.20 billion. Sealed Air reported sales of $1.13 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that Sealed Air will report full-year sales of $4.73 billion for the current year, with estimates ranging from $4.71 billion to $4.78 billion. For the next financial year, analysts expect that the company will report sales of $4.88 billion, with estimates ranging from $4.82 billion to $4.99 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Sealed Air.

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

A number of equities analysts recently commented on SEE shares. UBS Group set a $47.00 target price on Sealed Air and gave the stock a “buy” rating in a report on Thursday, October 18th. Zacks Investment Research cut Sealed Air from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a report on Thursday, August 2nd. ValuEngine raised Sealed Air from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Citigroup decreased their target price on Sealed Air from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.18.

In other Sealed Air news, insider Edward L. Doheny II purchased 5,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $39.65 per share, for a total transaction of $198,250.00. Following the purchase, the insider now owns 78,145 shares of the company’s stock, valued at approximately $3,098,449.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry R. Whitaker purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $39.81 per share, with a total value of $39,810.00. Following the purchase, the director now directly owns 8,021 shares in the company, valued at approximately $319,316.01. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 6,600 shares of company stock worth $262,654. 0.63% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. State of Wisconsin Investment Board increased its stake in Sealed Air by 2.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 152,963 shares of the industrial products company’s stock worth $6,493,000 after buying an additional 2,948 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Sealed Air by 11.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 52,646 shares of the industrial products company’s stock worth $2,236,000 after buying an additional 5,300 shares in the last quarter. Riverhead Capital Management LLC increased its stake in Sealed Air by 146.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 30,125 shares of the industrial products company’s stock worth $1,279,000 after buying an additional 17,884 shares in the last quarter. Bank of America Corp DE increased its stake in Sealed Air by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 1,532,074 shares of the industrial products company’s stock worth $65,037,000 after buying an additional 190,557 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Sealed Air in the 2nd quarter worth $1,670,000. Institutional investors and hedge funds own 96.53% of the company’s stock.

NYSE SEE opened at $30.74 on Thursday. The firm has a market cap of $4.95 billion, a PE ratio of 16.98, a PEG ratio of 1.49 and a beta of 1.10. The company has a current ratio of 1.11, a quick ratio of 0.69 and a debt-to-equity ratio of -8.64. Sealed Air has a 1-year low of $30.22 and a 1-year high of $49.94.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a $0.16 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 2.08%. Sealed Air’s dividend payout ratio is currently 35.36%.

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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