Sealed Air (SEE) Issues FY18 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $2.45-2.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.52. The company issued revenue guidance of ~$4.75 billion, compared to the consensus revenue estimate of $4.75 billion.

Shares of NYSE SEE traded down $1.47 during mid-day trading on Friday, reaching $39.99. 70,018 shares of the company’s stock were exchanged, compared to its average volume of 1,768,604. The stock has a market cap of $6.51 billion, a PE ratio of 22.61, a P/E/G ratio of 1.75 and a beta of 1.06. The company has a current ratio of 1.11, a quick ratio of 0.69 and a debt-to-equity ratio of -8.64. Sealed Air has a 52-week low of $40.76 and a 52-week high of $49.94.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Sealed Air had a return on equity of 859.42% and a net margin of 14.37%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.34 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. research analysts predict that Sealed Air will post 2.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Thursday, September 6th. Sealed Air’s dividend payout ratio (DPR) is 35.36%.

Sealed Air declared that its board has approved a stock buyback program on Thursday, May 3rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Several research analysts recently commented on SEE shares. Zacks Investment Research upgraded Sealed Air from a hold rating to a buy rating and set a $50.00 price target on the stock in a research note on Monday, May 21st. ValuEngine cut Sealed Air from a hold rating to a sell rating in a research report on Wednesday, July 4th. Bank of America increased their price target on Sealed Air from $48.00 to $50.00 and gave the stock a buy rating in a research report on Friday, May 4th. KeyCorp reiterated a hold rating on shares of Sealed Air in a research report on Thursday, May 3rd. Finally, Jefferies Financial Group assumed coverage on Sealed Air in a research report on Friday, May 18th. They set a buy rating and a $53.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $50.27.

In other news, insider Emile Z. Chammas sold 10,000 shares of the company’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 sale, the insider now directly owns 164,509 shares of the company’s stock, valued at approximately $7,407,840.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO William G. Stiehl sold 3,000 shares of the company’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 directly owns 42,898 shares in the company, valued at $1,887,940.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,000 shares of company stock valued at $897,400. Corporate insiders own 0.63% of the company’s stock.

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.

Further Reading: Market Capitalization and Individual Investors

Earnings History and Estimates for Sealed Air (NYSE:SEE)

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