Sealed Air (SEE) Reaches New 1-Year Low After Analyst Downgrade
Sealed Air Corp (NYSE:SEE) hit a new 52-week low during mid-day trading on Thursday after ValuEngine downgraded the stock from a sell rating to a strong sell rating. The stock traded as low as $31.50 and last traded at $32.07, with a volume of 242525 shares changing hands. The stock had previously closed at $35.28.
Several other brokerages also recently issued reports on SEE. Robert W. Baird cut their price target on Sealed Air from $55.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday. Citigroup cut their price target on Sealed Air from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, October 11th. Zacks Investment Research downgraded Sealed Air from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Bank of America downgraded Sealed Air from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Thursday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.09.
In other news, Director Jerry R. Whitaker acquired 1,000 shares of the stock in a transaction on Tuesday, August 14th. The shares were purchased at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the transaction, the director now directly owns 8,021 shares of the company’s stock, valued at $319,316.01. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward L. Doheny II acquired 5,000 shares of the stock in a transaction on Monday, August 13th. The shares were purchased at an average price of $39.65 per share, for a total transaction of $198,250.00. Following the transaction, the insider now directly owns 78,145 shares in the company, valued at $3,098,449.25. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,600 shares of company stock worth $262,654 in the last quarter. Company insiders own 0.63% of the company’s stock.
The company has a debt-to-equity ratio of -8.64, a current ratio of 1.11 and a quick ratio of 0.69. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.64 EPS for the quarter, topping 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $0.34 earnings per share. Sealed Air’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Sealed Air Corp will post 2.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 6th. Sealed Air’s payout ratio is currently 35.36%.
About Sealed Air (NYSE:SEE)
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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