Q3 2017 EPS Estimates for Sealed Air Corporation (NYSE:SEE) Boosted by KeyCorp
Sealed Air Corporation (NYSE:SEE) – Equities researchers at KeyCorp upped their Q3 2017 earnings estimates for shares of Sealed Air Corporation in a research note issued on Tuesday. KeyCorp analyst A. Josephson now expects that the industrial products company will post earnings of $0.49 per share for the quarter, up from their previous estimate of $0.45. KeyCorp also issued estimates for Sealed Air Corporation’s Q4 2017 earnings at $0.56 EPS and FY2018 earnings at $2.17 EPS.
Several other brokerages have also weighed in on SEE. BMO Capital Markets restated a “hold” rating and issued a $45.00 price objective on shares of Sealed Air Corporation in a report on Friday, June 9th. UBS AG set a $49.00 price objective on Sealed Air Corporation and gave the company a “buy” rating in a report on Wednesday, May 10th. BidaskClub raised Sealed Air Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $45.00 target price on shares of Sealed Air Corporation in a report on Tuesday, April 18th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $55.00 target price on shares of Sealed Air Corporation in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Sealed Air Corporation currently has a consensus rating of “Hold” and a consensus target price of $48.91.
Sealed Air Corporation (NYSE SEE) opened at 44.85 on Thursday. The firm has a market cap of $8.78 billion, a P/E ratio of 25.78 and a beta of 1.16. Sealed Air Corporation has a 1-year low of $41.74 and a 1-year high of $50.62. The stock’s 50 day moving average price is $44.97 and its 200 day moving average price is $45.23.
Sealed Air Corporation (NYSE:SEE) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.01. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, August 30th. Sealed Air Corporation’s payout ratio is 33.16%.
In related news, CAO William G. Stiehl sold 3,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $43.43, for a total transaction of $130,290.00. Following the transaction, the chief accounting officer now directly owns 37,797 shares of the company’s stock, valued at $1,641,523.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerome A. Peribere purchased 6,960 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average cost of $42.97 per share, for a total transaction of $299,071.20. Following the completion of the transaction, the insider now directly owns 199,000 shares of the company’s stock, valued at approximately $8,551,030. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new position in Sealed Air Corporation during the fourth quarter valued at $431,000. Chevy Chase Trust Holdings Inc. raised its position in Sealed Air Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 168,060 shares of the industrial products company’s stock valued at $7,324,000 after buying an additional 5,123 shares during the last quarter. CENTRAL TRUST Co raised its position in Sealed Air Corporation by 0.8% in the first quarter. CENTRAL TRUST Co now owns 3,830 shares of the industrial products company’s stock valued at $167,000 after buying an additional 30 shares during the last quarter. Gulf International Bank UK Ltd raised its position in Sealed Air Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 63,698 shares of the industrial products company’s stock valued at $2,775,000 after buying an additional 900 shares during the last quarter. Finally, Merriman Wealth Management LLC raised its position in Sealed Air Corporation by 54.5% in the first quarter. Merriman Wealth Management LLC now owns 42,780 shares of the industrial products company’s stock valued at $1,864,000 after buying an additional 15,088 shares during the last quarter. 91.94% of the stock is currently owned by hedge funds and other institutional investors.
About Sealed Air Corporation
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 a range of integrated system solutions.
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