Sealed Air Co. (NYSE:SEE – Get Rating) – Investment analysts at Jefferies Financial Group upped their Q3 2022 earnings estimates for Sealed Air in a research report issued on Tuesday, August 2nd. Jefferies Financial Group analyst P. Ng now expects that the industrial products company will post earnings per share of $0.94 for the quarter, up from their previous forecast of $0.91. The consensus estimate for Sealed Air’s current full-year earnings is $4.13 per share. Jefferies Financial Group also issued estimates for Sealed Air’s Q4 2022 earnings at $1.10 EPS and FY2022 earnings at $4.18 EPS.
A number of other equities analysts have also weighed in on SEE. Bank of America lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price target on the stock. in a research report on Thursday, July 7th. Credit Suisse Group lowered shares of Sealed Air from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $64.00 in a research report on Wednesday, July 20th. Citigroup lowered their price target on shares of Sealed Air from $81.00 to $80.00 in a research report on Friday, April 8th. Royal Bank of Canada upgraded shares of Sealed Air from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $66.00 to $70.00 in a research report on Wednesday. Finally, Mizuho reduced their target price on shares of Sealed Air from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.75.
Sealed Air Stock Performance
SEE opened at $55.47 on Friday. The firm has a market capitalization of $8.10 billion, a PE ratio of 15.07, a PEG ratio of 1.75 and a beta of 1.14. Sealed Air has a twelve month low of $54.51 and a twelve month high of $70.72. The firm’s 50-day moving average price is $58.86 and its 200 day moving average price is $63.48. The company has a current ratio of 1.34, a quick ratio of 0.74 and a debt-to-equity ratio of 18.30.
Sealed Air (NYSE:SEE – Get Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year.
Sealed Air Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, June 9th. Sealed Air’s dividend payout ratio (DPR) is currently 21.74%.
Insiders Place Their Bets
In related news, SVP Sergio A. Pupkin bought 1,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average price of $57.66 per share, for a total transaction of $57,660.00. Following the acquisition, the senior vice president now owns 45,748 shares in the company, valued at approximately $2,637,829.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sealed Air news, CEO Edward L. Doheny II purchased 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $56.95 per share, for a total transaction of $256,275.00. Following the purchase, the chief executive officer now directly owns 515,254 shares in the company, valued at $29,343,715.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sergio A. Pupkin acquired 1,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $57.66 per share, with a total value of $57,660.00. Following the transaction, the senior vice president now owns 45,748 shares in the company, valued at approximately $2,637,829.68. The disclosure for this purchase can be found here. 0.44% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Sealed Air
A number of large investors have recently bought and sold shares of SEE. National Bank of Canada FI purchased a new position in Sealed Air during the 4th quarter worth $51,000. Janney Montgomery Scott LLC raised its position in Sealed Air by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 39,791 shares of the industrial products company’s stock worth $2,685,000 after buying an additional 18,510 shares during the last quarter. National Asset Management Inc. raised its position in Sealed Air by 10.5% during the 4th quarter. National Asset Management Inc. now owns 5,192 shares of the industrial products company’s stock worth $351,000 after buying an additional 493 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Sealed Air in the 4th quarter valued at about $11,327,000. Finally, Yousif Capital Management LLC purchased a new position in shares of Sealed Air in the 4th quarter valued at about $1,725,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant -based, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
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