Sealed Air Co. (NYSE:SEE – Get Rating) – Jefferies Financial Group lifted their Q3 2022 earnings estimates for 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 earn $0.94 per share for the quarter, up from their previous forecast of $0.91. The consensus estimate for Sealed Air’s current full-year earnings is $4.13 per share. Jefferies Financial Group also issued estimates for Sealed Air’s Q4 2022 earnings at $1.10 EPS and FY2022 earnings at $4.18 EPS.
Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut shares of Sealed Air from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $71.00 to $62.00 in a research report on Wednesday, June 1st. Citigroup lowered their target price on Sealed Air from $81.00 to $80.00 in a research note on Friday, April 8th. Credit Suisse Group downgraded Sealed Air from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $64.00 in a research note on Wednesday, July 20th. Bank of America downgraded Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 target price for the company. in a research note on Thursday, July 7th. Finally, Mizuho lowered their target price on Sealed Air from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sealed Air has an average rating of “Hold” and an average target price of $69.75.
Sealed Air Trading Down 1.7 %
Sealed Air (NYSE:SEE – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business posted $0.79 earnings per share. Sealed Air’s revenue was up 6.7% compared to the same quarter last year.
Sealed Air Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, June 9th. Sealed Air’s dividend payout ratio is presently 21.74%.
Insider Buying and Selling at Sealed Air
In other news, SVP Sergio A. Pupkin bought 1,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $57.66 per share, with a total value of $57,660.00. Following the transaction, the senior vice president now owns 45,748 shares of the company’s stock, valued at approximately $2,637,829.68. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Sealed Air news, CEO Edward L. Doheny II purchased 4,500 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $56.95 per share, for a total transaction of $256,275.00. Following the acquisition, the chief executive officer now owns 515,254 shares of the company’s stock, valued at $29,343,715.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Sergio A. Pupkin purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average price of $57.66 per share, for a total transaction of $57,660.00. Following the completion of the acquisition, the senior vice president now directly owns 45,748 shares in the company, valued at approximately $2,637,829.68. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.
Hedge Funds Weigh In On Sealed Air
A number of institutional investors and hedge funds have recently modified their holdings of SEE. National Bank of Canada FI bought a new position in shares of Sealed Air during the 4th quarter worth approximately $51,000. Janney Montgomery Scott LLC boosted its holdings in shares of Sealed Air by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 39,791 shares of the industrial products company’s stock worth $2,685,000 after buying an additional 18,510 shares in the last quarter. National Asset Management Inc. boosted its holdings in shares of Sealed Air by 10.5% during the 4th quarter. National Asset Management Inc. now owns 5,192 shares of the industrial products company’s stock worth $351,000 after buying an additional 493 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Sealed Air during the 4th quarter worth approximately $11,327,000. Finally, Yousif Capital Management LLC bought a new position in shares of Sealed Air during the 4th quarter worth approximately $1,725,000. 90.23% of the stock is currently owned by institutional investors.
About Sealed Air
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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