Sealed Air Corp (SEE) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.47. The company posted revenue of $1590.60 million in the period, compared to analysts expectations of $1607.31 million. The company’s revenue was down -8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Sealed Air Corp. Sealed Air Corp was Resumed by Credit Suisse to “Outperform” on Apr 22, 2016. RBC Capital Mkts Initiated Sealed Air Corp on Feb 19, 2016 to “Outperform”, Price Target of the shares are set at $53.Sealed Air Corp was Upgraded by BofA/Merrill to ” Buy” on Feb 19, 2016.
Sealed Air Corp opened for trading at $52.12 and hit $52.83 on the upside on Wednesday, eventually ending the session at $52.68, with a gain of 1.42% or 0.74 points. The heightened volatility saw the trading volume jump to 27,48,612 shares. Company has a market cap of $10,325 M.
Investors should note that on Mar 21, 2016, Sealed Air Corp announced a cash dividend of $0.1600. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 17, 2016.
In a different news, on Feb 23, 2016, Ruth Roper (Vice President) sold 18,000 shares at $44.08 per share price. According to the SEC, on Dec 11, 2015, Kenneth P Manning (director) purchased 4,000 shares at $43.61 per share price. On Aug 4, 2015, Neil Lustig (director) purchased 1,000 shares at $53.35 per share price, according to the Form-4 filing with the securities and exchange commission.
Sealed Air Corporation is engaged in food safety and security facility hygiene and product protection business. The Company’s segments include Food Care which provides integrated system solutions for retailers and food service operators; Diversey Care which provides integrated system solutions for food safety and security under Diversey brand; Product Care which provides product care solutions to meet cushioning void fill positioning or block-and-bracing and surface protection among others and Other which includes corporate medical applications and new ventures businesses. Its brands include Cryovac packaging technology Diversey and Taski brand cleaning and hygiene solutions Bubble Wrap brand cushioning Jiffy protective mailers and Instapak foam-in-place systems. In addition the Company offers I-Pack system which supports various pick stations and e-Cube system which is an automated packaging solution.