Sealed Air Corporation (SEE) Stock Rating Reaffirmed by KeyCorp
Sealed Air Corporation (NYSE:SEE)‘s stock had its “hold” rating reissued by equities researchers at KeyCorp in a research report issued to clients and investors on Monday. KeyCorp also issued estimates for Sealed Air Corporation’s Q4 2017 earnings at $0.54 EPS and FY2018 earnings at $2.12 EPS.
The analysts wrote, “We are updating our estimates for Sealed Air (SEE) to account for recent resin price increases. Our 2017 adj. EBITDA estimate is going from $830M (guidance was/is $825M-$835M) to $818M, and our 2018 estimate is going from $860M to $848M (in other words, the same reduction as in 2017). Consensus is expecting a substantial $70M of EBITDA growth in 2018, which we don’t understand given recent (subdued) growth trends and given how high SEE’s margins already are; we are assuming $30M of growth on account of lower corporate costs. Key Investment Points On our reduced estimates, SEE is trading at ~12x our 2017/2018 adj. EBITDA estimates, higher than the packaging group average of 10-11x.””
A number of other brokerages have also recently weighed in on SEE. Zacks Investment Research cut Sealed Air Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Citigroup Inc. lowered Sealed Air Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $47.00 in a research report on Thursday, September 7th. BidaskClub lowered Sealed Air Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BMO Capital Markets restated a “hold” rating and set a $47.00 price objective on shares of Sealed Air Corporation in a research note on Thursday, July 20th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $44.00 price objective on shares of Sealed Air Corporation in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Sealed Air Corporation currently has a consensus rating of “Hold” and an average price target of $48.33.
Sealed Air Corporation (NYSE SEE) opened at 43.74 on Monday. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 22.60 and a beta of 1.17. Sealed Air Corporation has a 12-month low of $41.22 and a 12-month high of $50.62. The stock has a 50 day moving average price of $43.73 and a 200-day moving average price of $44.22.
Sealed Air Corporation (NYSE:SEE) last issued its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Equities analysts forecast that Sealed Air Corporation will post $1.83 earnings per share for the current year.
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In related news, Director Lawrence R. Codey sold 3,500 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of the sale, the director now owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.05% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SEE. Fiduciary Trust Co. bought a new stake in Sealed Air Corporation during the second quarter worth approximately $124,000. Global X Management Co. LLC boosted its stake in Sealed Air Corporation by 30.4% during the 1st quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 687 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Sealed Air Corporation by 3.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 116 shares in the last quarter. FNY Partners Fund LP bought a new position in Sealed Air Corporation during the 1st quarter valued at $196,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Sealed Air Corporation during the 2nd quarter valued at $201,000. Institutional investors and hedge funds own 92.12% of the company’s stock.
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 (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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