Sealed Air Corporation (SEE) Lowered to Neutral at Citigroup Inc.
Citigroup Inc. lowered shares of Sealed Air Corporation (NYSE:SEE) from a buy rating to a neutral rating in a research note issued to investors on Thursday. Citigroup Inc. currently has $47.00 target price on the industrial products company’s stock, down from their prior target price of $52.00.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Sealed Air Corporation from a buy rating to a hold rating in a report on Wednesday, July 19th. Credit Suisse Group set a $50.00 price target on shares of Sealed Air Corporation and gave the company a buy rating in a report on Thursday, May 11th. Jefferies Group LLC cut their price target on shares of Sealed Air Corporation from $45.00 to $40.00 and set a hold rating for the company in a report on Wednesday, May 10th. BidaskClub downgraded shares of Sealed Air Corporation from a hold rating to a sell rating in a report on Wednesday, August 2nd. Finally, BMO Capital Markets reissued a hold rating and issued a $47.00 price target on shares of Sealed Air Corporation in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $48.55.
Sealed Air Corporation (NYSE SEE) traded down 1.81% during trading on Thursday, reaching $42.96. 3,721,871 shares of the company’s stock traded hands. The company has a 50-day moving average of $44.53 and a 200 day moving average of $44.65. Sealed Air Corporation has a 12 month low of $41.74 and a 12 month high of $50.62. The stock has a market capitalization of $8.16 billion, a P/E ratio of 22.20 and a beta of 1.19.
Sealed Air Corporation (NYSE:SEE) last posted its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.01. The company had revenue of $1.07 billion during 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 business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 EPS. On average, equities research analysts expect that Sealed Air Corporation will post $1.82 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio is presently 33.16%.
Hedge funds have recently bought and sold shares of the business. Bridgewater Associates LP purchased a new stake in Sealed Air Corporation during the first quarter valued at about $1,230,000. Morgan Stanley lifted its stake in Sealed Air Corporation by 47.7% during the first quarter. Morgan Stanley now owns 571,285 shares of the industrial products company’s stock valued at $24,896,000 after buying an additional 184,503 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Sealed Air Corporation by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 1,788,451 shares of the industrial products company’s stock valued at $77,943,000 after buying an additional 23,184 shares in the last quarter. Family Legacy Inc. purchased a new stake in Sealed Air Corporation during the first quarter valued at about $229,000. Finally, Legal & General Group Plc lifted its stake in Sealed Air Corporation by 5.6% during the second quarter. Legal & General Group Plc now owns 949,170 shares of the industrial products company’s stock valued at $42,485,000 after buying an additional 50,305 shares in the last quarter. 92.16% of the stock is owned by institutional investors.
Sealed Air Corporation Company Profile
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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