Sealed Air Corp (SEE) Expected to Post Quarterly Sales of $1.19 Billion

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Equities research analysts expect Sealed Air Corp (NYSE:SEE) to post sales of $1.19 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Sealed Air’s earnings, with the lowest sales estimate coming in at $1.17 billion and the highest estimate coming in at $1.21 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 earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Sealed Air will report full-year sales of $4.76 billion for the current financial year, with estimates ranging from $4.73 billion to $4.78 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.92 billion, with estimates ranging from $4.89 billion to $4.99 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Sealed Air.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.64 EPS for the quarter, beating the 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 analyst estimates of $1.15 billion. During the same period last year, the company earned $0.34 earnings per share. Sealed Air’s quarterly revenue was up 7.9% compared to the same quarter last year.

SEE has been the topic of several research analyst reports. Zacks Investment Research raised Sealed Air from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Friday, June 15th. KeyCorp reissued 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. Citigroup dropped their price objective on Sealed Air from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Barclays dropped their price objective on Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.20.

SEE traded down $0.16 during trading on Monday, hitting $34.78. The company’s stock had a trading volume of 2,645,675 shares, compared to its average volume of 1,954,970. 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 twelve month low of $34.43 and a twelve month high of $49.94. The firm has a market cap of $6.38 billion, a P/E ratio of 19.22, a PEG ratio of 1.72 and a beta of 1.10.

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

In related news, insider Edward L. Doheny II purchased 5,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were bought at an average price of $39.65 per share, for a total transaction of $198,250.00. Following the acquisition, the insider now directly owns 78,145 shares in the company, valued at $3,098,449.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry R. Whitaker purchased 1,000 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 8,021 shares in the company, valued at $319,316.01. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 6,600 shares of company stock worth $262,654. 0.63% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Sealed Air in the 3rd quarter valued at about $180,000. Signition LP acquired a new stake in shares of Sealed Air in the 2nd quarter valued at about $204,000. HL Financial Services LLC acquired a new stake in shares of Sealed Air in the 2nd quarter valued at about $233,000. IFM Investors Pty Ltd boosted its position in shares of Sealed Air by 31.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 7,969 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 1,916 shares during the period. Finally, Chicago Equity Partners LLC boosted its position in shares of Sealed Air by 29.4% in the 2nd quarter. Chicago Equity Partners LLC now owns 10,355 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 2,355 shares during the period. 96.23% of the stock is owned by institutional investors and hedge funds.

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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