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

Sealed Air Co. (NYSE:SEE - Get Free Report) announced a quarterly dividend on Thursday, May 23rd, RTT News reports. Investors of record on Friday, June 14th will be paid a dividend of 0.20 per share by the industrial products company on Friday, June 28th. This represents a $0.80 annualized dividend and a yield of 2.14%.

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 24.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sealed Air to earn $3.18 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 25.2%.

Sealed Air Stock Performance

NYSE:SEE traded down $0.59 during trading hours on Thursday, reaching $37.41. 1,003,478 shares of the stock were exchanged, compared to its average volume of 1,593,740. The stock has a market capitalization of $5.45 billion, a P/E ratio of 15.02, a P/E/G ratio of 3.44 and a beta of 1.31. The firm has a 50 day simple moving average of $34.94 and a 200-day simple moving average of $35.07. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. Sealed Air has a 52 week low of $28.50 and a 52 week high of $47.12.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.25. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. As a group, sell-side analysts forecast that Sealed Air will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Mizuho cut their target price on shares of Sealed Air from $39.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, May 3rd. William Blair restated a "market perform" rating on shares of Sealed Air in a research report on Thursday, May 2nd. Wolfe Research initiated coverage on Sealed Air in a research report on Friday, March 1st. They issued a "peer perform" rating on the stock. Finally, Truist Financial raised shares of Sealed Air from a "hold" rating to a "buy" rating and boosted their price target for the company from $39.00 to $44.00 in a report on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sealed Air has an average rating of "Moderate Buy" and an average price target of $43.50.

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.