KeyCorp reaffirmed their sell rating on shares of Sealed Air (NYSE:SEE) in a research report sent to investors on Friday morning, AnalystRatings.com reports. They currently have a $39.00 price objective on the industrial products company’s stock.
“Weak cash flow conversion combined with a levered balance sheet (4.0x) is a suboptimal combination.”,” KeyCorp’s analyst commented.
A number of other research analysts have also recently commented on the stock. Morgan Stanley set a $44.00 target price on shares of Sealed Air and gave the stock a hold rating in a research report on Wednesday, April 17th. Bank of America cut shares of Sealed Air from a buy rating to a neutral rating and set a $41.63 target price on the stock. in a research report on Friday, June 21st. Finally, Zacks Investment Research cut shares of Sealed Air from a hold rating to a sell rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $42.66.
Shares of NYSE SEE traded up $3.18 during trading on Friday, reaching $44.33. 3,222,652 shares of the stock were exchanged, compared to its average volume of 889,770. The business’s 50-day moving average price is $43.25. Sealed Air has a twelve month low of $30.22 and a twelve month high of $47.13. The company has a market cap of $6.51 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10.
Sealed Air (NYSE:SEE) last posted its earnings results on Friday, August 2nd. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. Sealed Air had a net margin of 9.57% and a negative return on equity of 112.27%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts predict that Sealed Air will post 2.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.64 annualized dividend and a yield of 1.44%. Sealed Air’s dividend payout ratio is presently 25.60%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC raised its holdings in Sealed Air by 3.9% in the fourth quarter. MML Investors Services LLC now owns 8,921 shares of the industrial products company’s stock valued at $311,000 after acquiring an additional 333 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Sealed Air by 3.9% in the first quarter. Piedmont Investment Advisors Inc. now owns 8,884 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 333 shares in the last quarter. Stifel Financial Corp raised its holdings in Sealed Air by 5.8% in the fourth quarter. Stifel Financial Corp now owns 6,114 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 335 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in Sealed Air by 2.9% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 14,829 shares of the industrial products company’s stock valued at $683,000 after acquiring an additional 422 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in Sealed Air by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 43,659 shares of the industrial products company’s stock valued at $2,010,000 after acquiring an additional 500 shares in the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.
Sealed Air Company Profile
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.
Read More: What are municipal bonds?
Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.