Zacks: Analysts Expect Sealed Air Corp (NYSE:SEE) Will Post Quarterly Sales of $1.23 Billion

Analysts predict that Sealed Air Corp (NYSE:SEE) will post $1.23 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Sealed Air’s earnings. The lowest sales estimate is $1.19 billion and the highest is $1.27 billion. Sealed Air posted sales of $1.19 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.4%. The business is expected to report its next earnings results on Friday, August 2nd.

On average, analysts expect that Sealed Air will report full-year sales of $4.79 billion for the current fiscal year, with estimates ranging from $4.73 billion to $4.84 billion. For the next year, analysts forecast that the business will report sales of $5.02 billion, with estimates ranging from $4.72 billion to $5.48 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Sealed Air.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.16. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Sealed Air had a net margin of 9.57% and a negative return on equity of 112.27%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS.

Several research firms have commented on SEE. Bank of America downgraded 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. KeyCorp reaffirmed a “sell” rating and set a $39.00 price objective on shares of Sealed Air in a report on Friday. 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. Finally, Zacks Investment Research downgraded shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Sealed Air presently has an average rating of “Hold” and a consensus target price of $42.66.

Several hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC grew its position in Sealed Air by 3.9% during the fourth quarter. MML Investors Services LLC now owns 8,921 shares of the industrial products company’s stock valued at $311,000 after acquiring an additional 333 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in Sealed Air by 3.9% during the first quarter. Piedmont Investment Advisors Inc. now owns 8,884 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 333 shares during the last quarter. Stifel Financial Corp grew its position in Sealed Air by 5.8% during the fourth quarter. Stifel Financial Corp now owns 6,114 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 335 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Sealed Air by 2.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 14,829 shares of the industrial products company’s stock valued at $683,000 after acquiring an additional 422 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its position in Sealed Air by 1.2% during the first quarter. Gulf International Bank UK Ltd now owns 43,659 shares of the industrial products company’s stock valued at $2,010,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

NYSE SEE traded down $0.39 during trading on Monday, hitting $43.94. 94,726 shares of the company’s stock traded hands, compared to its average volume of 961,417. The stock has a market capitalization of $6.90 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.85 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 business’s 50 day simple moving average is $43.25.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, September 5th. Sealed Air’s 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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Earnings History and Estimates for Sealed Air (NYSE:SEE)

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