Sealed Air (NYSE:SEE) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.40-2.45 for the period, compared to the Thomson Reuters consensus estimate of $2.42. The company issued revenue guidance of approx $4.70 vlb, compared to the consensus revenue estimate of $4.72 billion.Sealed Air also updated its FY 2018 guidance to $2.40-2.45 EPS.
SEE opened at $33.27 on Friday. The firm has a market capitalization of $5.14 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.54 and a beta of 1.24. Sealed Air has a 12-month low of $30.22 and a 12-month high of $49.94.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Sealed Air had a net margin of 14.37% and a return on equity of 859.42%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Equities analysts predict that Sealed Air will post 2.43 EPS for the current fiscal 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 issued a $0.16 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.92%. Sealed Air’s dividend payout ratio is presently 35.36%.
A number of analysts have weighed in on SEE shares. ValuEngine raised shares of Sealed Air from a sell rating to a hold rating in a report on Saturday, July 28th. KeyCorp reissued a hold rating on shares of Sealed Air in a report on Thursday, August 2nd. Barclays dropped their target price on shares of Sealed Air from $51.00 to $50.00 and set an overweight rating on the stock in a report on Thursday, August 9th. Zacks Investment Research cut shares of Sealed Air from a hold rating to a sell rating in a report on Friday, October 5th. Finally, Citigroup dropped their target price on shares of Sealed Air from $47.00 to $42.00 and set a neutral rating on the stock in a report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $45.55.
In other news, insider Edward L. Doheny II acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average price of $39.65 per share, with a total value 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Jerry R. Whitaker acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average cost 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. Insiders have acquired 6,600 shares of company stock worth $262,654 over the last three months. 0.63% of the stock is owned by corporate insiders.
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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