Sealed Air Corporation (NYSE:SEE) – Investment analysts at SunTrust Banks raised their FY2017 earnings per share estimates for shares of Sealed Air Corporation in a research note issued to investors on Sunday. SunTrust Banks analyst J. Freuchtel now forecasts that the industrial products company will post earnings of $1.77 per share for the year, up from their previous forecast of $1.76. SunTrust Banks currently has a “Buy” rating and a $48.00 target price on the stock. SunTrust Banks also issued estimates for Sealed Air Corporation’s Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.64 EPS and FY2018 earnings at $2.29 EPS.
Sealed Air Corporation (NYSE:SEE) last announced its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. Sealed Air Corporation had a return on equity of 67.60% and a net margin of 20.15%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.41 EPS. Sealed Air Corporation’s quarterly revenue was up 6.2% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This news story was originally published by Week Herald and is owned by of Week Herald. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://weekherald.com/2017/11/15/suntrust-banks-comments-on-sealed-air-corporations-fy2017-earnings-see.html.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Sealed Air Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada restated a “hold” rating and set a $47.00 price objective on shares of Sealed Air Corporation in a research note on Thursday, November 9th. Barclays PLC upped their price objective on Sealed Air Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Bank of America Corporation set a $50.00 price objective on Sealed Air Corporation and gave the stock a “buy” rating in a research note on Friday, October 13th. Finally, KeyCorp restated a “hold” rating on shares of Sealed Air Corporation in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $48.75.
Shares of Sealed Air Corporation (NYSE:SEE) opened at $45.10 on Tuesday. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market capitalization of $10,380.00, a P/E ratio of 22.17, a P/E/G ratio of 6.17 and a beta of 1.21. Sealed Air Corporation has a 52-week low of $41.22 and a 52-week high of $50.62.
A number of hedge funds have recently modified their holdings of SEE. Teachers Advisors LLC increased its position in Sealed Air Corporation by 7.8% in the 1st quarter. Teachers Advisors LLC now owns 419,895 shares of the industrial products company’s stock worth $18,299,000 after purchasing an additional 30,322 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sealed Air Corporation by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 838,679 shares of the industrial products company’s stock worth $36,548,000 after purchasing an additional 27,757 shares during the last quarter. Bank of Montreal Can increased its position in Sealed Air Corporation by 7.4% in the 2nd quarter. Bank of Montreal Can now owns 80,453 shares of the industrial products company’s stock worth $3,601,000 after purchasing an additional 5,522 shares during the last quarter. Creative Planning increased its holdings in shares of Sealed Air Corporation by 58.3% during the 2nd quarter. Creative Planning now owns 10,913 shares of the industrial products company’s stock valued at $488,000 after acquiring an additional 4,019 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Sealed Air Corporation by 7.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,897 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 320 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors.
In related news, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of the sale, the director now directly owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 30th. Sealed Air Corporation’s dividend payout ratio is currently 61.54%.
About Sealed Air Corporation
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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