Sealed Air (NYSE:SEE) announced its quarterly earnings results on Friday. The industrial products company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.16, MarketWatch Earnings reports. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Sealed Air had a negative return on equity of 112.27% and a net margin of 9.57%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. Sealed Air updated its FY 2019 guidance to $2.70-2.80 EPS and its FY19 guidance to $2.70-2.80 EPS.
Shares of SEE stock opened at $44.33 on Monday. Sealed Air has a 12 month low of $30.22 and a 12 month high of $47.13. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.85 and a beta of 1.10. The stock’s 50 day simple moving average is $43.25.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.44%. Sealed Air’s dividend payout ratio (DPR) is presently 25.60%.
Several hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Sealed Air by 1.7% during the second quarter. Janus Henderson Group PLC now owns 8,347,252 shares of the industrial products company’s stock worth $357,096,000 after purchasing an additional 143,411 shares during the last quarter. Marshall Wace North America L.P. grew its holdings in shares of Sealed Air by 2.4% during the first quarter. Marshall Wace North America L.P. now owns 6,143,862 shares of the industrial products company’s stock worth $282,986,000 after purchasing an additional 144,425 shares during the last quarter. Rivulet Capital LLC grew its holdings in shares of Sealed Air by 1.1% during the first quarter. Rivulet Capital LLC now owns 4,401,066 shares of the industrial products company’s stock worth $202,713,000 after purchasing an additional 48,750 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sealed Air by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 2,113,877 shares of the industrial products company’s stock worth $73,522,000 after purchasing an additional 136,235 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Sealed Air during the fourth quarter worth $53,312,000. Institutional investors own 98.14% of the company’s stock.
Several equities research analysts recently commented on the company. Morgan Stanley set a $44.00 price target on Sealed Air and gave the company a “hold” rating in a research note on Wednesday, April 17th. Bank of America cut Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price target for the company. in a research note on Friday, June 21st. KeyCorp reissued a “sell” rating and issued a $39.00 price target on shares of Sealed Air in a research note on Friday. Finally, Zacks Investment Research cut Sealed Air from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Three 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 presently has a consensus rating of “Hold” and a consensus target price of $42.66.
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.
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