Zacks: Analysts Expect Sealed Air Corp (SEE) Will Post Earnings of $0.57 Per Share

Equities analysts expect that Sealed Air Corp (NYSE:SEE) will report $0.57 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Sealed Air’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.54. Sealed Air posted earnings per share of $0.51 during the same quarter last year, which would suggest a positive year over year growth rate of 11.8%. The business is scheduled to report its next earnings results on Thursday, May 2nd.

On average, analysts expect that Sealed Air will report full year earnings of $2.72 per share for the current fiscal year, with EPS estimates ranging from $2.69 to $2.75. For the next year, analysts anticipate that the company will report earnings of $2.99 per share, with EPS estimates ranging from $2.70 to $3.15. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Sealed Air.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, February 7th. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Sealed Air had a negative return on equity of 104.71% and a net margin of 4.08%. Sealed Air’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.58 earnings per share.

A number of brokerages have issued reports on SEE. Zacks Investment Research raised Sealed Air from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. TheStreet raised Sealed Air from a “d+” rating to a “c+” rating in a report on Thursday, February 7th. ValuEngine raised Sealed Air from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. KeyCorp reissued a “hold” rating on shares of Sealed Air in a report on Thursday, February 7th. Finally, Vertical Research cut Sealed Air from a “buy” rating to a “hold” rating in a report on Friday, February 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Sealed Air currently has a consensus rating of “Hold” and a consensus target price of $43.40.

Shares of NYSE SEE opened at $45.30 on Tuesday. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.87 and a beta of 1.14. Sealed Air has a 52-week low of $30.22 and a 52-week high of $46.21.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a $0.16 dividend. The ex-dividend date is Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.41%. Sealed Air’s dividend payout ratio is 25.60%.

In other Sealed Air news, Director Harry A. Lawton III purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was acquired at an average cost of $42.33 per share, with a total value of $42,330.00. Following the completion of the acquisition, the director now directly owns 2,225 shares of the company’s stock, valued at approximately $94,184.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Emile Z. Chammas purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The stock was acquired at an average cost of $33.40 per share, with a total value of $167,000.00. Following the completion of the acquisition, the senior vice president now directly owns 169,509 shares of the company’s stock, valued at $5,661,600.60. The disclosure for this purchase can be found here. Insiders purchased 13,500 shares of company stock valued at $462,455 over the last ninety days. 0.63% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in SEE. Marshall Wace LLP raised its holdings in shares of Sealed Air by 456.5% in the third quarter. Marshall Wace LLP now owns 2,002,230 shares of the industrial products company’s stock valued at $80,390,000 after buying an additional 1,642,467 shares during the last quarter. Norges Bank acquired a new stake in Sealed Air in the fourth quarter worth about $53,312,000. Bank of New York Mellon Corp increased its position in Sealed Air by 26.4% in the third quarter. Bank of New York Mellon Corp now owns 3,068,358 shares of the industrial products company’s stock worth $123,195,000 after purchasing an additional 640,351 shares during the period. Vanguard Group Inc increased its position in Sealed Air by 3.2% in the third quarter. Vanguard Group Inc now owns 18,025,501 shares of the industrial products company’s stock worth $723,724,000 after purchasing an additional 558,305 shares during the period. Finally, Victory Capital Management Inc. increased its position in Sealed Air by 38.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,332,457 shares of the industrial products company’s stock worth $46,423,000 after purchasing an additional 368,135 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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