Sealed Air (NYSE:SEE) issued an update on its FY19 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.70-2.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.73. The company issued revenue guidance of $4.85 billion, compared to the consensus revenue estimate of $4.81 billion.Sealed Air also updated its FY 2019 guidance to $2.70-2.80 EPS.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Sealed Air from a hold rating to a sell rating in a research report on Thursday, April 11th. KeyCorp reissued a sell rating and set a $39.00 price target on shares of Sealed Air in a research report on Friday. Morgan Stanley set a $44.00 price target on shares of Sealed Air and gave the company a hold rating in a research report on Wednesday, April 17th. Finally, Bank of America lowered shares of Sealed Air from a buy rating to a neutral rating and set a $41.63 price target on the stock. in a research report on Friday, June 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $42.66.
SEE stock traded up $3.18 during mid-day trading on Friday, hitting $44.33. The company had a trading volume of 3,222,652 shares, compared to its average volume of 961,417. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.72 and a beta of 1.10. Sealed Air has a 12 month low of $30.22 and a 12 month high of $47.13. The firm’s fifty day moving average is $43.25.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.44%. The ex-dividend date is Thursday, September 5th. Sealed Air’s dividend payout ratio is 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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