Zacks Investment Research upgraded shares of Sealed Air (NYSE:SEE) from a sell rating to a hold rating in a report released on Monday, November 13th.
According to Zacks, “Sealed Air’s third-quarter revenues and adjusted earnings improved on a year-over-year basis. While earnings came in line with the Zacks Consensus Estimate, revenues topped the same. Sealed Air projects sales of $4.4 billion in 2017 and adjusted EPS in the range of $1.75-$1.80. The Diversey sale is expected to help focus on the Food Care and Product Care divisions. The acquisitions of Deltaplam and Fagerdala will likely expand the company's geographic presence. Even though restructuring actions, investments in R&D are anticipated to drive future growth, it might affect margins in the near term. Also weak volumes in Australia/New Zealand remain a concern. Moreover, Sealed Air has underperformed its industry in the past year. However, the company is expected to gain from enhanced demand for core product portfolio, recently-introduced innovations, growth in the global protein market and e-Commerce.”
Several other research firms have also issued reports on SEE. Robert W. Baird reiterated a buy rating and set a $55.00 target price on shares of Sealed Air in a report on Friday, September 1st. BMO Capital Markets restated a hold rating and issued a $47.00 price objective on shares of Sealed Air in a research note on Thursday, July 20th. BidaskClub upgraded Sealed Air from a strong sell rating to a sell rating in a research note on Wednesday, August 9th. Jefferies Group restated a hold rating and issued a $44.00 price objective on shares of Sealed Air in a research note on Friday, August 11th. Finally, Barclays restated an equal weight rating and issued a $45.00 price objective on shares of Sealed Air in a research note on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Sealed Air currently has an average rating of Hold and an average target price of $48.83.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. equities research analysts predict that Sealed Air will post 1.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, November 30th. Sealed Air’s payout ratio is presently 12.19%.
In other news, SVP Emile Z. Chammas sold 6,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $271,440.00. Following the completion of the transaction, the senior vice president now directly owns 142,077 shares in the company, valued at approximately $6,427,563.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of the transaction, the director now owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in SEE. Janus Henderson Group PLC raised its position in Sealed Air by 46,138.7% during the 2nd quarter. Janus Henderson Group PLC now owns 10,600,215 shares of the industrial products company’s stock worth $474,465,000 after purchasing an additional 10,577,290 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Sealed Air by 199.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,592,978 shares of the industrial products company’s stock worth $205,703,000 after acquiring an additional 3,059,792 shares during the period. Wells Fargo & Company MN grew its holdings in Sealed Air by 245.4% during the 2nd quarter. Wells Fargo & Company MN now owns 4,191,343 shares of the industrial products company’s stock worth $187,604,000 after acquiring an additional 2,977,854 shares during the period. Manning & Napier Advisors LLC grew its holdings in Sealed Air by 5,650.5% during the 2nd quarter. Manning & Napier Advisors LLC now owns 2,506,945 shares of the industrial products company’s stock worth $112,209,000 after acquiring an additional 2,463,350 shares during the period. Finally, Jennison Associates LLC grew its holdings in Sealed Air by 91.6% during the 2nd quarter. Jennison Associates LLC now owns 3,378,121 shares of the industrial products company’s stock worth $151,205,000 after acquiring an additional 1,614,619 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.
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About Sealed Air
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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