Sealed Air (NYSE:SEE – Get Free Report) will be announcing its earnings results before the market opens on Thursday, November 2nd. Analysts expect the company to announce earnings of $0.63 per share for the quarter. Sealed Air has set its FY23 guidance at $2.75-2.95 EPS and its FY 2023 guidance at $2.75-$2.95 EPS.Investors that wish to listen to the company’s conference call can do so using this link.
Sealed Air (NYSE:SEE – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. Sealed Air had a return on equity of 154.56% and a net margin of 7.04%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts expect Sealed Air to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Sealed Air Stock Up 1.8 %
Shares of SEE opened at $30.81 on Thursday. The company has a debt-to-equity ratio of 11.24, a quick ratio of 0.69 and a current ratio of 1.20. Sealed Air has a one year low of $28.50 and a one year high of $56.43. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 6.27 and a beta of 1.31. The stock has a 50 day moving average price of $32.95 and a 200 day moving average price of $39.09.
Sealed Air Dividend Announcement
Analyst Ratings Changes
Several analysts recently commented on SEE shares. Truist Financial dropped their price target on Sealed Air from $43.00 to $38.00 and set a “hold” rating for the company in a research report on Tuesday, October 3rd. William Blair cut Sealed Air from an “outperform” rating to a “market perform” rating in a report on Tuesday. Credit Suisse Group upgraded Sealed Air from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $59.00 to $47.00 in a report on Wednesday, September 13th. Citigroup decreased their price target on Sealed Air from $41.00 to $37.00 in a research note on Tuesday, October 10th. Finally, Wells Fargo & Company decreased their price target on Sealed Air from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 19th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.55.
View Our Latest Stock Analysis on Sealed Air
Insider Buying and Selling at Sealed Air
In related news, CEO Edward L. Doheny II purchased 10,000 shares of Sealed Air stock in a transaction on Friday, September 8th. The shares were bought at an average price of $33.85 per share, with a total value of $338,500.00. Following the transaction, the chief executive officer now directly owns 658,360 shares of the company’s stock, valued at $22,285,486. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in SEE. MetLife Investment Management LLC increased its holdings in shares of Sealed Air by 34.1% in the 1st quarter. MetLife Investment Management LLC now owns 43,894 shares of the industrial products company’s stock valued at $2,939,000 after acquiring an additional 11,160 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Sealed Air by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,824 shares of the industrial products company’s stock valued at $1,327,000 after acquiring an additional 1,228 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Sealed Air by 93.2% in the 1st quarter. Raymond James Trust N.A. now owns 6,135 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 2,960 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sealed Air by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 980,118 shares of the industrial products company’s stock valued at $65,636,000 after acquiring an additional 34,459 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Sealed Air by 2.7% in the 1st quarter. Vontobel Holding Ltd. now owns 19,145 shares of the industrial products company’s stock valued at $1,307,000 after acquiring an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.
About Sealed Air
Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and NewZealand. 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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