FY2023 EPS Estimates for Sealed Air Co. (NYSE:SEE) Cut by Jefferies Financial Group

Sealed Air Co. (NYSE:SEEGet Rating) – Analysts at Jefferies Financial Group cut their FY2023 earnings per share (EPS) estimates for shares of Sealed Air in a research note issued on Tuesday, August 2nd. Jefferies Financial Group analyst P. Ng now expects that the industrial products company will post earnings per share of $4.39 for the year, down from their previous forecast of $4.49. The consensus estimate for Sealed Air’s current full-year earnings is $4.13 per share.

SEE has been the subject of several other reports. Morgan Stanley lowered their price objective on Sealed Air from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on Sealed Air from $71.00 to $62.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Bank of America lowered Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a research note on Thursday, July 7th. Royal Bank of Canada raised Sealed Air from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $66.00 to $70.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered Sealed Air from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $71.00 to $62.00 in a research note on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.75.

Sealed Air Price Performance

NYSE:SEE opened at $55.47 on Thursday. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.75 and a beta of 1.14. Sealed Air has a 1 year low of $54.51 and a 1 year high of $70.72. The business has a 50 day simple moving average of $58.86 and a 200-day simple moving average of $63.48. The company has a debt-to-equity ratio of 18.30, a current ratio of 1.34 and a quick ratio of 0.74.

Sealed Air (NYSE:SEEGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Sealed Air had a return on equity of 320.73% and a net margin of 9.56%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MQS Management LLC purchased a new position in Sealed Air during the 2nd quarter worth $730,000. M&T Bank Corp grew its stake in Sealed Air by 18.7% during the 2nd quarter. M&T Bank Corp now owns 14,334 shares of the industrial products company’s stock worth $717,000 after buying an additional 2,259 shares during the last quarter. Pinebridge Investments L.P. purchased a new position in Sealed Air during the 2nd quarter worth $4,986,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sealed Air during the 2nd quarter worth $498,000. Finally, Illinois Municipal Retirement Fund grew its stake in Sealed Air by 99.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 16,373 shares of the industrial products company’s stock worth $945,000 after buying an additional 8,166 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Sergio A. Pupkin purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $57.66 per share, for a total transaction of $57,660.00. Following the acquisition, the senior vice president now owns 45,748 shares of the company’s stock, valued at approximately $2,637,829.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Sergio A. Pupkin purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $57.66 per share, for a total transaction of $57,660.00. Following the acquisition, the senior vice president now owns 45,748 shares of the company’s stock, valued at approximately $2,637,829.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edward L. Doheny II purchased 4,500 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $56.95 per share, for a total transaction of $256,275.00. Following the completion of the acquisition, the chief executive officer now directly owns 515,254 shares in the company, valued at approximately $29,343,715.30. The disclosure for this purchase can be found here. Company insiders own 0.44% of the company’s stock.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10th were issued a $0.20 dividend. The ex-dividend date was Thursday, June 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%. Sealed Air’s dividend payout ratio is presently 21.74%.

Sealed Air Company Profile

(Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

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Earnings History and Estimates for Sealed Air (NYSE:SEE)

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