KeyCorp Brokers Lift Earnings Estimates for Sealed Air Corp (SEE)

Sealed Air Corp (NYSE:SEE) – Stock analysts at KeyCorp increased their FY2019 earnings per share (EPS) estimates for shares of Sealed Air in a note issued to investors on Wednesday, May 1st, Zacks Investment Research reports. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $2.72 per share for the year, up from their prior forecast of $2.69. KeyCorp currently has a “Hold” rating on the stock.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company 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 firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share.

A number of other research firms have also commented on SEE. TheStreet raised shares of Sealed Air from a “d+” rating to a “c+” rating in a research report on Thursday, February 7th. Goldman Sachs Group downgraded shares of Sealed Air from a “buy” rating to a “neutral” rating in a research note on Friday, February 8th. They noted that the move was a valuation call. BMO Capital Markets raised their price target on shares of Sealed Air from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. Morgan Stanley set a $44.00 price target on shares of Sealed Air and gave the company a “hold” rating in a research note on Wednesday, April 17th. Finally, Zacks Investment Research downgraded shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $43.00.

Shares of NYSE SEE traded up $0.20 during mid-day trading on Monday, reaching $41.26. 805,700 shares of the company were exchanged, compared to its average volume of 1,549,780. Sealed Air has a twelve month low of $30.22 and a twelve month high of $47.13. The stock has a market cap of $6.50 billion, a PE ratio of 16.50, a P/E/G ratio of 1.72 and a beta of 1.13.

A number of large investors have recently bought and sold shares of SEE. Rehmann Capital Advisory Group lifted its holdings in Sealed Air by 67.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,500 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 1,004 shares during the last quarter. Morgan Stanley increased its position in shares of Sealed Air by 6.5% in the third quarter. Morgan Stanley now owns 390,656 shares of the industrial products company’s stock worth $15,684,000 after purchasing an additional 23,837 shares during the last quarter. Bell Asset Management Ltd increased its position in shares of Sealed Air by 30.9% in the fourth quarter. Bell Asset Management Ltd now owns 197,233 shares of the industrial products company’s stock worth $6,872,000 after purchasing an additional 46,601 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Sealed Air by 95.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 969 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 472 shares during the last quarter. Finally, Vanguard Group Inc increased its position in shares of Sealed Air by 3.2% in 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 last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.64 annualized dividend and a yield of 1.55%. Sealed Air’s dividend payout ratio is presently 25.60%.

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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Earnings History and Estimates for Sealed Air (NYSE:SEE)

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