Citigroup Inc. lowered shares of Sealed Air Corporation (NYSE:SEE) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat reports. Citigroup Inc. currently has $47.00 price target on the industrial products company’s stock, down from their prior price target of $52.00.
SEE has been the topic of a number of other reports. BMO Capital Markets restated a hold rating and set a $47.00 price target on shares of Sealed Air Corporation in a research note on Sunday, August 27th. Robert W. Baird restated a buy rating and set a $55.00 price target on shares of Sealed Air Corporation in a research note on Friday, September 1st. Royal Bank Of Canada cut shares of Sealed Air Corporation from an outperform rating to a sector perform rating and dropped their price target for the company from $52.00 to $44.00 in a research note on Thursday, May 11th. They noted that the move was a valuation call. BidaskClub upgraded shares of Sealed Air Corporation from a strong sell rating to a sell rating in a research note on Wednesday, August 9th. Finally, Credit Suisse Group set a $50.00 price target on shares of Sealed Air Corporation and gave the company a buy rating in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $48.55.
Sealed Air Corporation (NYSE SEE) opened at 43.02 on Thursday. The stock’s 50 day moving average is $44.46 and its 200 day moving average is $44.64. Sealed Air Corporation has a one year low of $41.74 and a one year high of $50.62. The company has a market capitalization of $8.18 billion, a PE ratio of 22.23 and a beta of 1.19.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, analysts anticipate that Sealed Air Corporation will post $1.82 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio is presently 33.16%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. increased its holdings in shares of Sealed Air Corporation by 1.0% in the 1st quarter. Assetmark Inc. now owns 2,444 shares of the industrial products company’s stock worth $107,000 after buying an additional 25 shares during the last quarter. TrimTabs Asset Management LLC bought a new position in shares of Sealed Air Corporation in the 1st quarter worth $109,000. Fiduciary Trust Co. bought a new position in shares of Sealed Air Corporation in the 2nd quarter worth $124,000. Global X Management Co. LLC increased its holdings in shares of Sealed Air Corporation by 30.4% in the 1st quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock worth $129,000 after buying an additional 687 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Sealed Air Corporation by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock worth $173,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 92.16% of the company’s stock.
Sealed Air Corporation Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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