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

Sealed Air Co. (NYSE:SEE) declared a quarterly dividend on Thursday, October 17th, RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.18%.

Sealed Air has raised its dividend by an average of 7.7% annually over the last three years. Sealed Air has a dividend payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 3.9 %

SEE opened at $36.67 on Friday. Sealed Air has a 1-year low of $28.50 and a 1-year high of $41.14. The stock has a market capitalization of $5.34 billion, a PE ratio of 14.79, a PEG ratio of 8.98 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The firm has a 50-day moving average price of $34.56 and a two-hundred day moving average price of $35.31.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, beating 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 business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.80 earnings per share. Sealed Air’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus began coverage on Sealed Air in a report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price target on the stock. Royal Bank of Canada reduced their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Thursday. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Truist Financial reduced their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Citigroup lowered their target price 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. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and an average target price 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.