Wall Street brokerages forecast that Sealed Air Corp (NYSE:SEE) will announce $1.13 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Sealed Air’s earnings. The highest sales estimate is $1.14 billion and the lowest is $1.12 billion. Sealed Air also reported sales of $1.13 billion in the same quarter last year. The firm is scheduled to report its next earnings report on Thursday, May 2nd.
On average, analysts expect that Sealed Air will report full year sales of $4.81 billion for the current financial year, with estimates ranging from $4.79 billion to $4.85 billion. For the next fiscal year, analysts anticipate that the business will report sales of $4.93 billion, with estimates ranging from $4.81 billion to $4.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Sealed Air.
Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, February 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $1.26 billion for 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%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS.
In related news, SVP Emile Z. Chammas acquired 5,000 shares of Sealed Air stock in a transaction dated Monday, December 17th. The stock was purchased at an average cost of $33.40 per share, for a total transaction of $167,000.00. Following the purchase, the senior vice president now directly owns 169,509 shares of the company’s stock, valued at approximately $5,661,600.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry A. Lawton III acquired 1,000 shares of Sealed Air stock in a transaction dated Tuesday, February 19th. The stock was bought at an average price of $42.33 per share, with a total value of $42,330.00. Following the completion of the purchase, the director now directly owns 2,225 shares in the company, valued at $94,184.25. The disclosure for this purchase can be found here. Insiders have bought a total of 13,500 shares of company stock worth $462,455 over the last three months. Insiders own 0.63% of the company’s stock.
Large investors have recently bought and sold shares of the company. Korea Investment CORP increased its stake in shares of Sealed Air by 305.8% in the 3rd quarter. Korea Investment CORP now owns 430,883 shares of the industrial products company’s stock worth $17,300,000 after purchasing an additional 324,700 shares in the last quarter. Morgan Stanley increased its stake in shares of Sealed Air by 6.5% in the 3rd quarter. Morgan Stanley now owns 390,656 shares of the industrial products company’s stock worth $15,684,000 after purchasing an additional 23,837 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Sealed Air by 3,814.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 60,082 shares of the industrial products company’s stock worth $1,496,000 after purchasing an additional 58,547 shares in the last quarter. Bell Asset Management Ltd increased its stake in Sealed Air by 30.9% in the 4th quarter. Bell Asset Management Ltd now owns 197,233 shares of the industrial products company’s stock worth $6,872,000 after buying an additional 46,601 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Sealed Air by 364.0% in the 3rd quarter. Captrust Financial Advisors now owns 2,775 shares of the industrial products company’s stock worth $111,000 after buying an additional 2,177 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.
SEE stock opened at $45.30 on Thursday. The company has a market capitalization of $7.05 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.14. Sealed Air has a 12-month low of $30.22 and a 12-month high of $46.21.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 1.41%. Sealed Air’s payout ratio is 25.60%.
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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