Sealed Air Corp (NYSE:SEE) announced a quarterly dividend on Thursday, May 21st, RTT News reports. Shareholders of record on Friday, June 5th will be given a dividend of 0.16 per share by the industrial products company on Friday, June 19th. This represents a $0.64 annualized dividend and a yield of 2.13%. The ex-dividend date is Thursday, June 4th.
Sealed Air has a dividend payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Sealed Air to earn $2.87 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 22.3%.
SEE opened at $30.00 on Friday. Sealed Air has a 1-year low of $17.06 and a 1-year high of $45.86. The company has a market cap of $4.67 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 2.83 and a beta of 1.12. The company has a fifty day moving average price of $28.51 and a two-hundred day moving average price of $33.67.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.14. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Sealed Air had a net margin of 6.84% and a negative return on equity of 179.75%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, analysts forecast that Sealed Air will post 2.7 earnings per share for the current fiscal year.
In other news, CEO Edward L. Doheny II purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $23.05 per share, for a total transaction of $230,500.00. Also, CEO Edward L. Doheny II bought 7,500 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was bought at an average price of $32.89 per share, for a total transaction of $246,675.00. Over the last 90 days, insiders have purchased 34,000 shares of company stock worth $947,070. 0.53% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on SEE shares. ValuEngine downgraded shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Morgan Stanley decreased their target price on shares of Sealed Air from $40.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. JPMorgan Chase & Co. decreased their target price on shares of Sealed Air from $41.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. KeyCorp reissued a “hold” rating on shares of Sealed Air in a research report on Tuesday, May 5th. Finally, Cfra decreased their target price on shares of Sealed Air from $36.00 to $33.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.89.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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