$1.11 Billion in Sales Expected for Sealed Air Corp (SEE) This Quarter

Brokerages predict that Sealed Air Corp (NYSE:SEE) will post $1.11 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Sealed Air’s earnings. The lowest sales estimate is $745.00 million and the highest is $1.25 billion. Sealed Air reported sales of $1.23 billion during the same quarter last year, which would suggest a negative year over year growth rate of 9.8%. The business is expected to issue its next earnings report on Thursday, February 14th.

On average, analysts expect that Sealed Air will report full year sales of $4.72 billion for the current year, with estimates ranging from $4.68 billion to $4.79 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.84 billion, with estimates ranging from $4.65 billion to $5.06 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Sealed Air.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Sealed Air had a negative return on equity of 150.20% and a negative net margin of 0.87%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year.

SEE has been the subject of a number of analyst reports. Citigroup dropped their price target on Sealed Air from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, October 11th. ValuEngine upgraded Sealed Air from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th. UBS Group set a $45.00 price target on Sealed Air and gave the company a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded Sealed Air from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th. Finally, Bank of America upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Friday, December 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.00.

In other Sealed Air news, insider Edward L. Doheny II acquired 7,500 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was bought at an average cost of $33.75 per share, for a total transaction of $253,125.00. Following the completion of the transaction, the insider now owns 85,645 shares of the company’s stock, valued at approximately $2,890,518.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Emile Z. Chammas acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was acquired at an average price of $33.40 per share, with a total value of $167,000.00. Following the completion of the transaction, the senior vice president now directly owns 169,509 shares of the company’s stock, valued at approximately $5,661,600.60. The disclosure for this purchase can be found here. Corporate insiders own 0.63% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank boosted its position in shares of Sealed Air by 2.7% during the fourth quarter. First Hawaiian Bank now owns 12,788 shares of the industrial products company’s stock worth $446,000 after buying an additional 335 shares during the period. Federated Investors Inc. PA boosted its position in shares of Sealed Air by 5,119.8% during the third quarter. Federated Investors Inc. PA now owns 167,033 shares of the industrial products company’s stock worth $6,706,000 after buying an additional 163,833 shares during the period. Marshall Wace North America L.P. boosted its position in shares of Sealed Air by 6.1% during the third quarter. Marshall Wace North America L.P. now owns 5,660,228 shares of the industrial products company’s stock worth $227,258,000 after buying an additional 326,156 shares during the period. Marshall Wace LLP boosted its position in shares of Sealed Air by 456.5% during the third quarter. Marshall Wace LLP now owns 2,002,230 shares of the industrial products company’s stock worth $80,390,000 after buying an additional 1,642,467 shares during the period. Finally, Vanguard Group Inc boosted its position in shares of Sealed Air by 3.2% during the third quarter. Vanguard Group Inc now owns 18,025,501 shares of the industrial products company’s stock worth $723,724,000 after buying an additional 558,305 shares during the period. Institutional investors and hedge funds own 94.36% of the company’s stock.

Shares of SEE stock traded up $0.48 during trading hours on Friday, reaching $36.57. The company had a trading volume of 1,425,600 shares, compared to its average volume of 1,576,400. The firm has a market capitalization of $5.53 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. Sealed Air has a 12-month low of $30.22 and a 12-month high of $49.57.

About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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