Sealed Air Corp. (SEE) Rating Lowered to Sell at Zacks Investment Research
Sealed Air Corp. (NYSE:SEE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “For 2016, Sealed Air reiterated its net sales guidance of approximately $6.85 billion. The impact from the Food Care divestitures on 2016 net sales is $102 million, of which $82 million hurt the first half of the year. The company anticipates that the recent geopolitical events in Europe and the Middle East to have an effect on its business in the coming months. In addtion, increased R&D, sales and marketing expenses and weak resin prices will affect the company's margins in the near term.”
Other analysts also recently issued reports about the company. Credit Suisse Group AG reiterated an “outperform” rating and issued a $59.00 price target on shares of Sealed Air Corp. in a report on Thursday, September 8th. Citigroup Inc. upgraded Sealed Air Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $56.00 in a report on Friday, July 15th. Robert W. Baird reiterated an “outperform” rating on shares of Sealed Air Corp. in a report on Sunday, September 25th. JPMorgan Chase & Co. began coverage on Sealed Air Corp. in a report on Tuesday, September 13th. They issued a “neutral” rating and a $53.00 price target for the company. Finally, Jefferies Group increased their price target on Sealed Air Corp. from $45.00 to $52.00 and gave the company a “hold” rating in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $53.42.
Shares of Sealed Air Corp. (NYSE:SEE) opened at 45.82 on Thursday. The firm’s 50-day moving average price is $46.65 and its 200-day moving average price is $47.42. Sealed Air Corp. has a one year low of $38.02 and a one year high of $52.83. The stock has a market capitalization of $9.01 billion, a P/E ratio of 26.12 and a beta of 1.23.
Sealed Air Corp. (NYSE:SEE) last issued its earnings results on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Equities research analysts anticipate that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a $0.16 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 1.40%. Sealed Air Corp.’s dividend payout ratio (DPR) is 36.57%.
Institutional investors have recently bought and sold shares of the company. Boston Partners purchased a new position in Sealed Air Corp. during the second quarter worth approximately $275,038,000. TimesSquare Capital Management LLC acquired a new position in shares of Sealed Air Corp. during the second quarter worth about $77,193,000. Roystone Capital Management LP acquired a new position in shares of Sealed Air Corp. during the second quarter worth about $76,830,000. Bank of Montreal Can acquired a new position in shares of Sealed Air Corp. during the second quarter worth about $68,189,000. Finally, Janus Capital Management LLC boosted its position in shares of Sealed Air Corp. by 26.4% in the second quarter. Janus Capital Management LLC now owns 4,036,401 shares of the company’s stock worth $185,553,000 after buying an additional 843,167 shares in the last quarter. Institutional investors and hedge funds own 89.21% of the company’s stock.
About Sealed Air Corp.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing processors, retailers and food service operators a range of integrated system solutions.
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