Sealed Air Corp (NYSE:SEE) Expected to Announce Quarterly Sales of $1.24 Billion

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Equities analysts expect that Sealed Air Corp (NYSE:SEE) will report $1.24 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Sealed Air’s earnings. The highest sales estimate is $1.24 billion and the lowest is $1.23 billion. Sealed Air reported sales of $1.19 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The company is scheduled to announce its next earnings report on Thursday, November 7th.

On average, analysts expect that Sealed Air will report full-year sales of $4.84 billion for the current financial year, with estimates ranging from $4.81 billion to $4.85 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.09 billion, with estimates ranging from $4.99 billion to $5.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Sealed Air.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.16. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year.

A number of research firms have recently weighed in on SEE. KeyCorp reissued a “sell” rating and issued a $39.00 price target on shares of Sealed Air in a report on Friday, August 2nd. Bank of America lowered Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 target price for the company. in a research note on Friday, June 21st. ValuEngine lowered Sealed Air from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Co upped their target price on Sealed Air from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $42.69.

Several large investors have recently made changes to their positions in SEE. Oppenheimer Asset Management Inc. boosted its stake in shares of Sealed Air by 3.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 17,135 shares of the industrial products company’s stock worth $733,000 after buying an additional 518 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Sealed Air in the first quarter worth about $88,000. Pictet Asset Management Ltd. raised its position in Sealed Air by 16.8% in the first quarter. Pictet Asset Management Ltd. now owns 279,809 shares of the industrial products company’s stock worth $12,888,000 after acquiring an additional 40,188 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Sealed Air by 36.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 39,005 shares of the industrial products company’s stock worth $1,796,000 after acquiring an additional 10,396 shares during the period. Finally, Bbva USA Bancshares Inc. grew its stake in Sealed Air by 10.7% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 18,839 shares of the industrial products company’s stock worth $805,000 after buying an additional 1,824 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

NYSE SEE opened at $40.33 on Thursday. Sealed Air has a fifty-two week low of $30.22 and a fifty-two week high of $47.13. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.08. The business has a fifty day moving average of $42.07 and a 200-day moving average of $43.64.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.64 annualized dividend and a dividend yield of 1.59%. Sealed Air’s dividend payout ratio is 25.60%.

About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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