Sealed Air (NYSE:SEE) PT Lowered to $54.00

Posted by on May 8th, 2023

Sealed Air (NYSE:SEE – Get Rating) had its target price reduced by Royal Bank of Canada from $58.00 to $54.00 in a report released on Thursday morning, The Fly reports.

A number of other brokerages also recently issued reports on SEE. UBS Group raised shares of Sealed Air from a neutral rating to a buy rating and set a $59.00 price objective for the company in a research report on Wednesday, April 5th. Truist Financial lowered Sealed Air from a buy rating to a hold rating and set a $59.00 price target on the stock. in a report on Thursday, January 5th. Mizuho reduced their price objective on Sealed Air from $58.00 to $56.00 in a research note on Wednesday, May 3rd. Credit Suisse Group lowered their target price on Sealed Air from $64.00 to $59.00 and set a neutral rating on the stock in a research note on Monday, February 13th. Finally, StockNews.com lowered shares of Sealed Air from a buy rating to a hold rating in a research report on Saturday, April 8th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $57.36.

Sealed Air Price Performance

SEE stock opened at $42.54 on Thursday. The company has a debt-to-equity ratio of 13.39, a quick ratio of 0.60 and a current ratio of 1.19. The business has a 50-day simple moving average of $45.94 and a two-hundred day simple moving average of $49.06. The company has a market capitalization of $6.14 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 3.74 and a beta of 1.23. Sealed Air has a 52-week low of $41.15 and a 52-week high of $66.06.

Sealed Air (NYSE:SEE – Get Rating) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Sealed Air had a net margin of 7.25% and a return on equity of 196.19%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. Research analysts expect that Sealed Air will post 3.59 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 9th. This represents a $0.80 annualized dividend and a yield of 1.88%. Sealed Air’s payout ratio is 28.88%.

Institutional Trading of Sealed Air

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Sealed Air in the fourth quarter worth about $73,895,000. Sarasin & Partners LLP lifted its holdings in Sealed Air by 4,708.4% in the first quarter. Sarasin & Partners LLP now owns 1,096,795 shares of the industrial products company’s stock worth $72,059,000 after buying an additional 1,073,985 shares during the period. JPMorgan Chase & Co. lifted its holdings in Sealed Air by 358.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,082,196 shares of the industrial products company’s stock worth $53,979,000 after buying an additional 846,299 shares during the period. Marathon Asset Management Ltd purchased a new stake in Sealed Air in the first quarter worth about $22,688,000. Finally, Renaissance Technologies LLC increased its stake in shares of Sealed Air by 93.7% during the first quarter. Renaissance Technologies LLC now owns 583,221 shares of the industrial products company’s stock valued at $39,052,000 after purchasing an additional 282,200 shares in the last quarter. 89.63% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Company Profile

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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 services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

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Analyst Recommendations for Sealed Air (NYSE:SEE)

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