Sealed Air Corp (NYSE:SEE) Expected to Announce Earnings of $0.64 Per Share

Wall Street analysts expect Sealed Air Corp (NYSE:SEE) to post $0.64 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Sealed Air’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.67. Sealed Air also reported earnings of $0.64 per share during the same quarter last year. The business is expected to issue its next earnings report before the market opens on Friday, August 2nd.

According to Zacks, analysts expect that Sealed Air will report full year earnings of $2.73 per share for the current financial year, with EPS estimates ranging from $2.70 to $2.75. For the next fiscal year, analysts expect that the firm will report earnings of $2.99 per share, with EPS estimates ranging from $2.72 to $3.10. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Sealed Air.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The firm 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 company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share.

Several research firms have recently issued reports on SEE. Morgan Stanley set a $60.00 price target on shares of Berry Global Group and gave the company a “hold” rating in a research note on Wednesday, April 17th. Zacks Investment Research downgraded shares of Hollysys Automation Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Finally, Bank of America set a $300.00 price target on shares of IDEXX Laboratories and gave the company a “buy” rating in a research note on Friday, June 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.07.

In other news, CEO Edward L. Doheny II bought 5,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $45.00 per share, with a total value of $225,000.00. Following the completion of the purchase, the chief executive officer now directly owns 167,246 shares of the company’s stock, valued at $7,526,070. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SEE. MML Investors Services LLC lifted its stake in shares of Sealed Air by 3.9% in the 4th quarter. MML Investors Services LLC now owns 8,921 shares of the industrial products company’s stock worth $311,000 after purchasing an additional 333 shares during the period. Piedmont Investment Advisors Inc. raised its stake in Sealed Air by 3.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,884 shares of the industrial products company’s stock worth $409,000 after acquiring an additional 333 shares during the period. Stifel Financial Corp raised its stake in Sealed Air by 5.8% during the 4th quarter. Stifel Financial Corp now owns 6,114 shares of the industrial products company’s stock worth $214,000 after acquiring an additional 335 shares during the period. Flinton Capital Management LLC raised its stake in Sealed Air by 2.2% during the 4th quarter. Flinton Capital Management LLC now owns 15,736 shares of the industrial products company’s stock worth $548,000 after acquiring an additional 336 shares during the period. Finally, Neuburgh Advisers LLC raised its stake in Sealed Air by 2.2% during the 4th quarter. Neuburgh Advisers LLC now owns 19,108 shares of the industrial products company’s stock worth $666,000 after acquiring an additional 408 shares during the period. 98.26% of the stock is owned by institutional investors and hedge funds.

Shares of SEE stock traded up $0.33 during trading hours on Friday, hitting $43.55. 867,200 shares of the company’s stock traded hands, compared to its average volume of 1,482,411. The firm has a 50 day moving average price of $43.09. The stock has a market cap of $6.73 billion, a PE ratio of 17.44, a PEG ratio of 1.79 and a beta of 1.12. Sealed Air has a 12 month low of $30.22 and a 12 month high of $47.13.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.47%. Sealed Air’s dividend payout ratio 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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