Sealed Air Corp.’s (SEE) “Buy” Rating Reaffirmed at Citigroup Inc.
A number of other analysts have also commented on the stock. Zacks Investment Research raised shares of Sealed Air Corp. from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research report on Wednesday, June 29th. SunTrust Banks Inc. assumed coverage on shares of Sealed Air Corp. in a research report on Tuesday, July 12th. They issued a buy rating and a $54.00 price objective on the stock. BMO Capital Markets reissued a hold rating and issued a $50.00 price objective on shares of Sealed Air Corp. in a research report on Friday, July 29th. Jefferies Group cut their price objective on shares of Sealed Air Corp. from $52.00 to $50.00 and set a hold rating on the stock in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Sealed Air Corp. in a research report on Tuesday, September 13th. They issued a neutral rating and a $53.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $53.33.
Shares of Sealed Air Corp. (NYSE:SEE) opened at 44.72 on Monday. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 25.50 and a beta of 1.22. Sealed Air Corp. has a 52-week low of $38.02 and a 52-week high of $52.83. The firm has a 50-day moving average of $45.97 and a 200 day moving average of $47.21.
Sealed Air Corp. (NYSE:SEE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Sealed Air Corp. had a net margin of 5.16% and a return on equity of 98.51%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Analysts predict that Sealed Air Corp. will post $2.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a $0.16 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.43%. Sealed Air Corp.’s dividend payout ratio (DPR) is currently 36.57%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its position in Sealed Air Corp. by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,335 shares of the company’s stock worth $107,000 after buying an additional 21 shares during the period. Seven Eight Capital LLC boosted its position in Sealed Air Corp. by 8.9% in the second quarter. Seven Eight Capital LLC now owns 2,443 shares of the company’s stock worth $112,000 after buying an additional 200 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position in Sealed Air Corp. by 128.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,730 shares of the company’s stock worth $125,000 after buying an additional 1,534 shares during the period. Meeder Asset Management Inc. bought a new position in Sealed Air Corp. during the first quarter worth approximately $132,000. Finally, Johnson Financial Group Inc. boosted its position in Sealed Air Corp. by 18,782.4% in the second quarter. Johnson Financial Group Inc. now owns 3,210 shares of the company’s stock worth $148,000 after buying an additional 3,193 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.
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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