“We are increasing our 2019 adj. EBITDA estimate from $895 million to $933 million (guidance is $925 million-$945 million) and introducing a 2020 estimate of the same (consensus is $975 million). However, our 2019 free cash flow estimate is going from $375 million to $250 million (in line with guidance), and we are introducing a 2020 estimate of the same given continued high cash restructuring costs.”,” KeyCorp’s analyst wrote.
Other analysts have also issued research reports about the company. Bank of America raised Sealed Air from a neutral rating to a buy rating and set a $41.00 target price on the stock in a report on Friday, December 14th. UBS Group set a $45.00 target price on Sealed Air and gave the company a buy rating in a report on Friday, November 2nd. Zacks Investment Research raised Sealed Air from a hold rating to a buy rating and set a $40.00 target price on the stock in a report on Monday, January 7th. Morgan Stanley initiated coverage on Sealed Air in a report on Wednesday, January 16th. They issued an equal weight rating and a $38.00 target price on the stock. Finally, ValuEngine raised Sealed Air from a sell rating to a hold rating in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $43.40.
Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, February 7th. The industrial products company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Sealed Air had a negative return on equity of 104.71% and a net margin of 4.08%. Sealed Air’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. Equities research analysts forecast that Sealed Air will post 2.72 EPS for the current fiscal year.
In related news, insider Edward L. Doheny II acquired 7,500 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were acquired at an average price of $33.75 per share, with a total value of $253,125.00. Following the completion of the purchase, the insider now directly owns 85,645 shares in the company, valued at $2,890,518.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Emile Z. Chammas acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were bought at an average cost of $33.40 per share, for a total transaction of $167,000.00. Following the purchase, the senior vice president now owns 169,509 shares of the company’s stock, valued at $5,661,600.60. The disclosure for this purchase can be found here. 0.63% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. ETRADE Capital Management LLC acquired a new stake in shares of Sealed Air during the fourth quarter valued at $633,000. Massachusetts Financial Services Co. MA lifted its position in Sealed Air by 2.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,338,198 shares of the industrial products company’s stock worth $46,624,000 after buying an additional 29,986 shares during the period. Olstein Capital Management L.P. lifted its position in Sealed Air by 23.1% during the fourth quarter. Olstein Capital Management L.P. now owns 160,000 shares of the industrial products company’s stock worth $5,574,000 after buying an additional 30,000 shares during the period. Doyle Wealth Management purchased a new position in Sealed Air during the fourth quarter worth about $32,000. Finally, Arnhold LLC lifted its position in Sealed Air by 1.0% during the fourth quarter. Arnhold LLC now owns 102,647 shares of the industrial products company’s stock worth $3,576,000 after buying an additional 1,010 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.
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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