Sealed Air (NYSE:SEE) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of ~$2.70-2.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.77. The company issued revenue guidance of ~$4.8 billion, compared to the consensus revenue estimate of $4.83 billion.
A number of research analysts recently issued reports on the company. Wells Fargo & Co cut their price objective on Sealed Air from $43.00 to $40.00 and set a market perform rating for the company in a research note on Thursday. KeyCorp upgraded Sealed Air from an underweight rating to a sector weight rating in a research note on Wednesday. They noted that the move was a valuation call. Citigroup cut their price objective on Sealed Air from $45.00 to $42.00 and set a neutral rating for the company in a research note on Thursday, October 17th. Finally, ValuEngine downgraded Sealed Air from a sell rating to a strong sell rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $42.96.
Shares of NYSE:SEE opened at $40.02 on Friday. The stock has a 50 day moving average of $41.04 and a 200 day moving average of $42.47. Sealed Air has a 12-month low of $32.33 and a 12-month high of $47.13. The company has a market cap of $6.46 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Sealed Air will post 2.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.64 dividend on an annualized basis and a yield of 1.60%. Sealed Air’s dividend payout ratio is presently 25.60%.
In other Sealed Air news, CFO James M. Sullivan purchased 5,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were bought at an average cost of $38.75 per share, with a total value of $193,750.00. Following the acquisition, the chief financial officer now owns 17,028 shares in the company, valued at $659,835. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.
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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