$1.17 Billion in Sales Expected for Sealed Air Corp (SEE) This Quarter

Analysts predict that Sealed Air Corp (NYSE:SEE) will report $1.17 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Sealed Air’s earnings, with the highest sales estimate coming in at $1.19 billion and the lowest estimate coming in at $1.16 billion. Sealed Air posted sales of $1.16 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The business is expected to issue its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Sealed Air will report full year sales of $4.83 billion for the current year, with estimates ranging from $4.74 billion to $4.97 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.03 billion, with estimates ranging from $4.74 billion to $5.48 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Sealed Air.

Sealed Air (NYSE:SEE) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.13 billion. Sealed Air had a net margin of 9.57% and a negative return on equity of 112.27%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share.

SEE has been the subject of several recent research reports. TheStreet raised shares of Sealed Air from a “d+” rating to a “c+” rating in a research report on Thursday, February 7th. KeyCorp reissued a “hold” rating on shares of Sealed Air in a research report on Thursday, February 7th. Goldman Sachs Group downgraded shares of Sealed Air from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. They noted that the move was a valuation call. BMO Capital Markets boosted their target price on shares of Sealed Air from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 11th. Finally, Morgan Stanley set a $44.00 target price on shares of Sealed Air and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $43.00.

In other news, CEO Edward L. Doheny II purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $45.00 per share, for a total transaction of $225,000.00. Following the completion of the acquisition, the chief executive officer now owns 167,246 shares in the company, valued at $7,526,070. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in SEE. Norges Bank purchased a new position in Sealed Air during the fourth quarter worth about $53,312,000. LSV Asset Management purchased a new position in Sealed Air during the first quarter worth about $50,283,000. Renaissance Technologies LLC boosted its holdings in Sealed Air by 230.4% during the first quarter. Renaissance Technologies LLC now owns 1,137,209 shares of the industrial products company’s stock worth $52,380,000 after purchasing an additional 793,000 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Sealed Air by 37.4% during the first quarter. Wellington Management Group LLP now owns 2,735,788 shares of the industrial products company’s stock worth $126,010,000 after purchasing an additional 745,193 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Sealed Air by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,840,491 shares of the industrial products company’s stock worth $222,952,000 after purchasing an additional 671,111 shares during the last quarter. Institutional investors and hedge funds own 99.33% of the company’s stock.

NYSE:SEE opened at $41.74 on Wednesday. The stock has a market cap of $6.49 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.13. Sealed Air has a one year low of $30.22 and a one year high of $47.13.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, June 6th. Sealed Air’s dividend payout ratio (DPR) is presently 25.60%.

About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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

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