Equities research analysts expect Sealed Air Corp (NYSE:SEE) to announce sales of $1.11 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Sealed Air’s earnings. The lowest sales estimate is $745.00 million and the highest is $1.25 billion. Sealed Air reported sales of $1.23 billion in the same quarter last year, which would suggest a negative year over year growth rate of 9.8%. The company is expected to announce its next quarterly earnings report on Thursday, February 14th.
On average, analysts expect that Sealed Air will report full-year sales of $4.72 billion for the current fiscal year, with estimates ranging from $4.68 billion to $4.79 billion. For the next fiscal year, analysts expect that the business will report sales of $4.84 billion, with estimates ranging from $4.65 billion to $5.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Sealed Air.
Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. Sealed Air’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS.
SEE has been the topic of a number of recent research reports. Robert W. Baird cut their price target on shares of Sealed Air from $55.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 18th. ValuEngine upgraded shares of Sealed Air from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Zacks Investment Research upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday. Citigroup cut their price target on shares of Sealed Air from $42.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Finally, Barclays cut their price target on shares of Sealed Air from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $43.00.
Shares of Sealed Air stock traded up $0.48 during midday trading on Friday, reaching $36.57. 1,425,600 shares of the company’s stock traded hands, compared to its average volume of 1,576,400. The company has a market capitalization of $5.53 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.08 and a beta of 1.11. Sealed Air has a 52 week low of $30.22 and a 52 week high of $49.57.
In other news, insider Edward L. Doheny II bought 7,500 shares of the stock in a transaction that occurred on Monday, December 17th. The shares were acquired at an average cost of $33.75 per share, for a total transaction of $253,125.00. Following the purchase, the insider now owns 85,645 shares of the company’s stock, valued at approximately $2,890,518.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Emile Z. Chammas bought 5,000 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was purchased at an average price of $33.40 per share, for a total transaction of $167,000.00. Following the completion of the purchase, the senior vice president now directly owns 169,509 shares in the company, valued at approximately $5,661,600.60. The disclosure for this purchase can be found here. Company insiders own 0.63% of the company’s stock.
A number of large investors have recently bought and sold shares of SEE. Captrust Financial Advisors grew its position in Sealed Air by 364.0% in the 3rd quarter. Captrust Financial Advisors now owns 2,775 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 2,177 shares during the last quarter. Honkamp Krueger Financial Services Inc. acquired a new stake in Sealed Air in the 3rd quarter worth $140,000. Cerebellum GP LLC acquired a new stake in Sealed Air in the 3rd quarter worth $180,000. Ridgewood Investments LLC acquired a new stake in Sealed Air in the 3rd quarter worth $202,000. Finally, First Mercantile Trust Co. acquired a new stake in Sealed Air in the 3rd quarter worth $202,000. Institutional investors and hedge funds own 94.36% of the company’s stock.
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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