Sealed Air Co. (NYSE:SEE) Expected to Announce Quarterly Sales of $1.38 Billion

Analysts forecast that Sealed Air Co. (NYSE:SEE) will report sales of $1.38 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Sealed Air’s earnings. The lowest sales estimate is $1.36 billion and the highest is $1.40 billion. Sealed Air reported sales of $1.24 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The company is expected to issue its next quarterly earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that Sealed Air will report full-year sales of $5.47 billion for the current fiscal year, with estimates ranging from $5.41 billion to $5.50 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.64 billion, with estimates ranging from $5.52 billion to $5.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Sealed Air.

Sealed Air (NYSE:SEE) last announced its earnings results on Monday, August 2nd. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Sealed Air had a return on equity of 519.84% and a net margin of 9.56%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share.

A number of research firms recently weighed in on SEE. Robert W. Baird reissued a “buy” rating and issued a $72.00 target price on shares of Sealed Air in a research note on Friday, September 10th. BMO Capital Markets raised their target price on shares of Sealed Air from $52.00 to $62.00 and gave the company a “market perform” rating in a research report on Thursday, August 5th. They noted that the move was a valuation call. Truist began coverage on shares of Sealed Air in a research note on Monday. They set a “buy” rating and a $72.00 target price for the company. Morgan Stanley lifted their price target on shares of Sealed Air from $52.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, August 5th. Finally, Zacks Investment Research downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Monday, September 6th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.13.

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of Sealed Air by 55.1% during the second quarter. Bank of America Corp DE now owns 2,391,435 shares of the industrial products company’s stock valued at $141,693,000 after buying an additional 849,709 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Sealed Air by 15.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 630,228 shares of the industrial products company’s stock worth $37,341,000 after acquiring an additional 83,784 shares during the last quarter. Morgan Stanley lifted its position in Sealed Air by 267.3% during the 2nd quarter. Morgan Stanley now owns 896,378 shares of the industrial products company’s stock worth $53,110,000 after acquiring an additional 652,353 shares during the last quarter. Redwood Investment Management LLC lifted its position in Sealed Air by 32.1% during the 2nd quarter. Redwood Investment Management LLC now owns 22,824 shares of the industrial products company’s stock worth $1,352,000 after acquiring an additional 5,541 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Sealed Air by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 601,063 shares of the industrial products company’s stock worth $35,613,000 after acquiring an additional 33,635 shares during the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.

Shares of NYSE SEE traded down $0.35 during mid-day trading on Monday, reaching $57.92. 69,035 shares of the company traded hands, compared to its average volume of 1,149,867. The company has a debt-to-equity ratio of 39.57, a current ratio of 1.29 and a quick ratio of 0.77. The firm has a market cap of $8.68 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. Sealed Air has a fifty-two week low of $36.27 and a fifty-two week high of $62.04. The stock has a fifty day simple moving average of $58.46 and a 200-day simple moving average of $54.27.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. Sealed Air’s dividend payout ratio (DPR) is 25.08%.

Sealed Air Company Profile

Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment serves the perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

Further Reading: What is a Market Correction?

Get a free copy of the Zacks research report on Sealed Air (SEE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.