Sealed Air (NYSE:SEE) Trading Up 7.7% on Strong Earnings

Sealed Air Corp (NYSE:SEE)’s share price was up 7.7% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $44.65 and last traded at $44.33, approximately 3,222,652 shares traded hands during trading. An increase of 123% from the average daily volume of 1,448,125 shares. The stock had previously closed at $41.15.

The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.16. Sealed Air had a net margin of 9.57% and a negative return on equity of 112.27%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.64 annualized dividend and a dividend yield of 1.44%. Sealed Air’s dividend payout ratio is currently 25.60%.

Several equities analysts have recently weighed in on SEE shares. KeyCorp reiterated a “sell” rating and set a $39.00 price objective on shares of Sealed Air in a report on Friday. Zacks Investment Research lowered shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Bank of America lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price objective on the stock. in a report on Friday, June 21st. Finally, Morgan Stanley set a $44.00 price objective on shares of Sealed Air and gave the company a “hold” rating in a report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Sealed Air has an average rating of “Hold” and a consensus target price of $42.66.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thor Advisors LLC acquired a new stake in shares of Sealed Air in the 1st quarter worth about $78,000. Rockefeller Capital Management L.P. purchased a new stake in Sealed Air in the 1st quarter valued at about $88,000. NumerixS Investment Technologies Inc purchased a new stake in Sealed Air in the 1st quarter valued at about $90,000. Quantamental Technologies LLC purchased a new stake in Sealed Air in the 1st quarter valued at about $96,000. Finally, Private Capital Group LLC increased its stake in Sealed Air by 222.7% in the 1st quarter. Private Capital Group LLC now owns 2,178 shares of the industrial products company’s stock valued at $100,000 after buying an additional 1,503 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

The stock has a market cap of $6.63 billion, a PE ratio of 17.73, a PEG ratio of 1.78 and a beta of 1.12. The business’s 50 day moving average price is $43.26.

About Sealed Air (NYSE:SEE)

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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