Sealed Air Co. (NYSE:SEE – Get Rating) – Equities researchers at KeyCorp issued their Q3 2022 earnings estimates for Sealed Air in a note issued to investors on Tuesday, August 2nd. KeyCorp analyst A. Josephson anticipates that the industrial products company will post earnings of $0.96 per share for the quarter. The consensus estimate for Sealed Air’s current full-year earnings is $4.13 per share. KeyCorp also issued estimates for Sealed Air’s Q4 2022 earnings at $1.09 EPS and FY2022 earnings at $4.18 EPS.
Several other research firms have also commented on SEE. Morgan Stanley reduced their price target on shares of Sealed Air from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday. Mizuho reduced their price objective on shares of Sealed Air from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday. Credit Suisse Group downgraded shares of Sealed Air from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $64.00 in a research note on Wednesday, July 20th. Bank of America cut shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Thursday, July 7th. Finally, Citigroup reduced their target price on shares of Sealed Air from $81.00 to $80.00 in a report on Friday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sealed Air currently has an average rating of “Hold” and a consensus price target of $69.75.
Sealed Air Trading Down 1.7 %
Sealed Air (NYSE:SEE – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS.
Sealed Air Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, June 9th. Sealed Air’s dividend payout ratio (DPR) is 21.74%.
In related news, SVP Sergio A. Pupkin acquired 1,000 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the senior vice president now directly owns 45,748 shares in the company, valued at $2,637,829.68. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Sealed Air news, CEO Edward L. Doheny II purchased 4,500 shares of the company’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 completion of the transaction, the chief executive officer now owns 515,254 shares in the company, valued at $29,343,715.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Sergio A. Pupkin purchased 1,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $57.66 per share, for a total transaction of $57,660.00. Following the completion of the transaction, the senior vice president now owns 45,748 shares of the company’s stock, valued at approximately $2,637,829.68. The disclosure for this purchase can be found here. Corporate insiders own 0.44% of the company’s stock.
Institutional Investors Weigh In On Sealed Air
Hedge funds and other institutional investors have recently bought and sold shares of the business. MQS Management LLC acquired a new stake in Sealed Air during the 2nd quarter worth about $730,000. M&T Bank Corp raised its holdings 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 period. Pinebridge Investments L.P. acquired a new stake in Sealed Air during the 2nd quarter worth about $4,986,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sealed Air during the 2nd quarter worth about $498,000. Finally, Illinois Municipal Retirement Fund raised its holdings 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 period. 90.23% of the stock is currently owned by institutional investors.
Sealed Air Company Profile
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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