Sealed Air Corp (SEE) Expected to Post Quarterly Sales of $1.19 Billion

Equities analysts expect Sealed Air Corp (NYSE:SEE) to announce sales of $1.19 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Sealed Air’s earnings, with the lowest sales estimate coming in at $1.17 billion and the highest estimate coming in at $1.21 billion. Sealed Air reported sales of $1.13 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The business is scheduled to announce its next earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Sealed Air will report full-year sales of $4.76 billion for the current year, with estimates ranging from $4.73 billion to $4.78 billion. For the next year, analysts expect that the business will report sales of $4.92 billion per share, with estimates ranging from $4.89 billion to $4.99 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Sealed Air.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Sealed Air had a net margin of 14.37% and a return on equity of 859.42%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis.

Several brokerages recently issued reports on SEE. Zacks Investment Research downgraded shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. UBS Group set a $52.00 price target on shares of Sealed Air and gave the company a “buy” rating in a report on Wednesday, May 23rd. Citigroup lifted their price target on shares of Sealed Air from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 4th. Bank of America raised their price objective on shares of Sealed Air from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 4th. Finally, TheStreet cut shares of Sealed Air from a “c” rating to a “d+” rating in a research report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $50.27.

In other Sealed Air news, insider Emile Z. Chammas sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $45.03, for a total value of $450,300.00. Following the completion of the sale, the insider now owns 164,509 shares in the company, valued at approximately $7,407,840.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William G. Stiehl sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $44.01, for a total transaction of $132,030.00. Following the completion of the sale, the chief financial officer now owns 42,898 shares of the company’s stock, valued at approximately $1,887,940.98. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 6,600 shares of company stock valued at $262,654 and sold 20,000 shares valued at $897,400. Company insiders own 0.63% of the company’s stock.

Several large investors have recently modified their holdings of SEE. BNP Paribas Arbitrage SA grew its position in shares of Sealed Air by 1,148.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,454,312 shares of the industrial products company’s stock worth $62,230,000 after buying an additional 1,337,835 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Sealed Air during the 1st quarter worth approximately $45,313,000. O Shaughnessy Asset Management LLC grew its position in shares of Sealed Air by 509.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 939,426 shares of the industrial products company’s stock worth $40,199,000 after buying an additional 785,276 shares during the period. OppenheimerFunds Inc. grew its position in shares of Sealed Air by 99.0% during the 1st quarter. OppenheimerFunds Inc. now owns 1,027,120 shares of the industrial products company’s stock worth $43,951,000 after buying an additional 510,959 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Sealed Air by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 1,316,525 shares of the industrial products company’s stock worth $55,886,000 after buying an additional 401,096 shares during the period. Institutional investors own 96.45% of the company’s stock.

Shares of SEE stock opened at $38.95 on Friday. Sealed Air has a 12-month low of $38.49 and a 12-month high of $49.94. The stock has a market cap of $6.31 billion, a P/E ratio of 21.52, a PEG ratio of 1.70 and a beta of 1.06. The company has a quick ratio of 0.69, a current ratio of 1.11 and a debt-to-equity ratio of -8.64.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, September 6th. Sealed Air’s payout ratio is presently 35.36%.

Sealed Air announced that its board has authorized a stock repurchase plan on Thursday, May 3rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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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