Sealed Air Co. Declares Quarterly Dividend of $0.20 (NYSE:SEE)

Sealed Air Co. (NYSE:SEE) announced a quarterly dividend on Thursday, October 17th, RTT News reports. Investors of record on Friday, December 6th will be paid a dividend of 0.20 per share by the industrial products company on Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 2.18%.

Sealed Air has increased its dividend by an average of 7.7% per year over the last three years. Sealed Air has a dividend payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sealed Air to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.9%.

Sealed Air Stock Up 3.9 %

SEE stock traded up $1.37 during trading hours on Thursday, hitting $36.67. The company’s stock had a trading volume of 2,334,369 shares, compared to its average volume of 1,537,321. The stock has a 50 day moving average price of $34.53 and a two-hundred day moving average price of $35.30. Sealed Air has a 12 month low of $28.50 and a 12 month high of $41.14. The company has a market capitalization of $5.34 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 8.72 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts expect that Sealed Air will post 2.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Citigroup decreased their price objective on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a report on Monday, July 8th. Stifel Nicolaus started coverage on shares of Sealed Air in a report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 target price on the stock. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the company from $47.00 to $35.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada lowered their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, 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, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.