SunTrust Banks restated their buy rating on shares of Sealed Air (NYSE:SEE) in a research note published on Friday, November 17th. They currently have a $49.00 price objective on the industrial products company’s stock. SunTrust Banks also issued estimates for Sealed Air’s FY2017 earnings at $1.77 EPS, Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.64 EPS and FY2018 earnings at $2.29 EPS.
Several other brokerages have also recently weighed in on SEE. Zacks Investment Research cut Sealed Air from a hold rating to a sell rating in a report on Tuesday, October 10th. Robert W. Baird reiterated a buy rating and issued a $55.00 target price on shares of Sealed Air in a report on Friday, September 1st. BMO Capital Markets restated a hold rating and set a $47.00 price objective on shares of Sealed Air in a research note on Thursday, July 20th. BidaskClub upgraded Sealed Air from a strong sell rating to a sell rating in a research note on Wednesday, August 9th. Finally, Jefferies Group restated a hold rating and set a $44.00 price objective on shares of Sealed Air in a research note on Friday, August 11th. One research 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’s stock. The stock presently has a consensus rating of Hold and an average target price of $48.83.
Sealed Air (NYSE:SEE) traded up $0.38 during midday trading on Friday, hitting $48.12. The stock had a trading volume of 3,107,196 shares, compared to its average volume of 2,178,354. The company has a market cap of $8,611.65, a P/E ratio of 23.87, a P/E/G ratio of 6.62 and a beta of 1.23. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 4.23. Sealed Air has a 52-week low of $41.22 and a 52-week high of $50.62.
Sealed Air (NYSE:SEE) last released its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. research analysts expect that Sealed Air will post 1.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, November 30th. Sealed Air’s dividend payout ratio (DPR) is 12.19%.
In other Sealed Air news, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.91, for a total transaction of $150,185.00. Following the transaction, the director now owns 38,180 shares in the company, valued at $1,638,303.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Emile Z. Chammas sold 6,000 shares of the firm’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 value of $271,440.00. Following the completion of the transaction, 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 company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEE. Janus Henderson Group PLC lifted its position in shares of Sealed Air by 46,138.7% in the second quarter. Janus Henderson Group PLC now owns 10,600,215 shares of the industrial products company’s stock valued at $474,465,000 after acquiring an additional 10,577,290 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Sealed Air by 199.6% during the second quarter. Ameriprise Financial Inc. now owns 4,592,978 shares of the industrial products company’s stock worth $205,703,000 after buying an additional 3,059,792 shares in the last quarter. Wells Fargo & Company MN lifted its position in Sealed Air by 245.4% during the second quarter. Wells Fargo & Company MN now owns 4,191,343 shares of the industrial products company’s stock worth $187,604,000 after buying an additional 2,977,854 shares in the last quarter. Manning & Napier Advisors LLC lifted its position in Sealed Air by 5,650.5% during the second quarter. Manning & Napier Advisors LLC now owns 2,506,945 shares of the industrial products company’s stock worth $112,209,000 after buying an additional 2,463,350 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Sealed Air by 91.6% during the second quarter. Jennison Associates LLC now owns 3,378,121 shares of the industrial products company’s stock worth $151,205,000 after buying an additional 1,614,619 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.
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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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