Sealed Air Corp (NYSE:SEE) – Investment analysts at KeyCorp raised their FY2019 earnings estimates for shares of Sealed Air in a report released on Wednesday, May 1st, according to Zacks Investment Research. KeyCorp analyst A. Josephson now anticipates that the industrial products company will earn $2.72 per share for the year, up from their prior forecast of $2.69. KeyCorp has a “Hold” rating on the stock.
Several other analysts have also issued reports on SEE. Morgan Stanley set a $44.00 price target on shares of Sealed Air and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Zacks Investment Research lowered shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Royal Bank of Canada increased their price target on shares of Sealed Air to $43.00 and gave the stock a “sector perform” rating in a research report on Friday, February 15th. BMO Capital Markets increased their price target 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, TheStreet upgraded shares of Sealed Air from a “d+” rating to a “c+” rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Sealed Air presently has a consensus rating of “Hold” and a consensus target price of $44.00.
Sealed Air (NYSE:SEE) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Sealed Air had a net margin of 9.57% and a negative return on equity of 112.27%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis.
Several large investors have recently modified their holdings of SEE. Norges Bank acquired a new position in shares of Sealed Air during the fourth quarter worth $53,312,000. LSV Asset Management acquired a new position in shares of Sealed Air during the first quarter worth $50,283,000. Renaissance Technologies LLC lifted its holdings in shares of 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 period. Vanguard Group Inc lifted its holdings in shares of Sealed Air by 3.2% during the third quarter. Vanguard Group Inc now owns 18,025,501 shares of the industrial products company’s stock worth $723,724,000 after purchasing an additional 558,305 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Sealed Air by 38.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,332,457 shares of the industrial products company’s stock worth $46,423,000 after purchasing an additional 368,135 shares during the period. Institutional investors own 99.33% of the company’s stock.
In related news, CEO Edward L. Doheny II bought 5,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $45.00 per share, for a total transaction of $225,000.00. Following the completion of the transaction, the chief executive officer now directly owns 167,246 shares of the company’s stock, valued at approximately $7,526,070. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry A. Lawton III purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were acquired at an average price of $42.33 per share, for a total transaction of $42,330.00. Following the acquisition, the director now owns 2,225 shares of the company’s stock, valued at approximately $94,184.25. The disclosure for this purchase can be found here. Company insiders own 0.53% of the company’s stock.
Sealed Air Company Profile
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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