Jefferies Financial Group Research Analysts Cut Earnings Estimates for Sealed Air Co. (NYSE:SEE)

Sealed Air Co. (NYSE:SEE – Get Rating) – Research analysts at Jefferies Financial Group reduced their Q4 2022 EPS estimates for Sealed Air in a report issued on Tuesday, May 3rd. Jefferies Financial Group analyst P. Ng now anticipates that the industrial products company will earn $1.12 per share for the quarter, down from their prior estimate of $1.18.

Sealed Air (NYSE:SEE – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.19. Sealed Air had a return on equity of 378.45% and a net margin of 9.16%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis.

A number of other research firms also recently commented on SEE. Wells Fargo & Company lifted their target price on Sealed Air from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 22nd. StockNews.com assumed coverage on Sealed Air in a report on Thursday, March 31st. They issued a “buy” rating for the company. Credit Suisse Group assumed coverage on Sealed Air in a research report on Friday, January 28th. They set an “outperform” rating and a $80.00 price target for the company. Mizuho boosted their price target on Sealed Air from $68.00 to $72.00 in a research report on Friday, February 18th. Finally, JPMorgan Chase & Co. cut Sealed Air from an “overweight” rating to a “neutral” rating and set a $71.00 price target for the company. in a research report on Friday, February 25th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $71.23.

Shares of SEE stock opened at $68.48 on Thursday. Sealed Air has a fifty-two week low of $53.87 and a fifty-two week high of $70.72. The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.48 and a beta of 1.18. The company has a debt-to-equity ratio of 12.95, a quick ratio of 0.67 and a current ratio of 1.03. The stock’s 50-day simple moving average is $66.77 and its 200-day simple moving average is $65.49.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEE. BlackRock Inc. grew its holdings in shares of Sealed Air by 13.0% during the 4th quarter. BlackRock Inc. now owns 18,393,878 shares of the industrial products company’s stock worth $1,241,033,000 after purchasing an additional 2,114,602 shares during the period. Norges Bank purchased a new position in shares of Sealed Air during the 4th quarter worth $102,856,000. Nuveen Asset Management LLC lifted its stake in Sealed Air by 230.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,609,512 shares of the industrial products company’s stock worth $108,594,000 after acquiring an additional 1,122,961 shares in the last quarter. Kensico Capital Management Corp lifted its stake in Sealed Air by 33.8% during the 4th quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company’s stock worth $282,912,000 after acquiring an additional 1,058,900 shares in the last quarter. Finally, Morgan Stanley lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, March 10th. Sealed Air’s dividend payout ratio is presently 22.10%.

Sealed Air Company Profile (Get Rating)

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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