Sealed Air Co. (SEE) To Go Ex-Dividend on December 6th

Sealed Air Co. (NYSE:SEE) declared a quarterly dividend on Thursday, October 17th, RTT News reports. Stockholders of record on Friday, December 6th will be given 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 2.16%. The ex-dividend date of this dividend is Friday, December 6th.

Sealed Air has raised its dividend payment by an average of 7.7% per year over the last three years. Sealed Air has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of SEE stock opened at $37.12 on Friday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 8.98 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30. Sealed Air has a 52 week low of $28.50 and a 52 week high of $41.14. The company has a 50-day simple moving average of $34.64 and a 200 day simple moving average of $35.31.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Stifel Nicolaus initiated coverage on Sealed Air in a research note on Tuesday, July 9th. They set a “buy” rating and a $47.00 price target on the stock. Citigroup decreased their target price on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and dropped their price objective for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Finally, Truist Financial decreased their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air has an average rating of “Moderate Buy” and a consensus price target of $41.00.

About Sealed Air

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.