Sealed Air (SEE) has a market cap of $8.9 billion. It fell 0.07% to close at $45.22 per share on October 6, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -1.1%, -4.8%, and 2.4%, respectively, on the same day.
SEE is trading 1.6% below its 20-day moving average, 2.9% below its 50-day moving average, and 1.4% below its 200-day moving average.
Related ETFs and peers
The Materials Select Sector SPDR ETF (XLB) invests 1.8% of its holdings in Sealed Air. The ETF tracks a market cap–weighted index of US basic materials companies. The fund includes only the materials components of the S&P 500. The YTD price movement of XLB was 11.5% on October 6.
The iShares Russell 3000 ETF (IWV) invests 0.04% of its holdings in Sealed Air. The ETF tracks a cap-weighted index that measures the investable US equities market, covering the entire market cap spectrum, including microcaps.
The market caps of Sealed Air’s competitors are as follows:
Sealed Air declares dividend
Sealed Air has declared a quarterly cash dividend of $0.16 per share on its common stock. The dividend will be paid on December 16, 2016, to shareholders of record at the close of business on December 2, 2016.
Performance in 2Q16
Sealed Air reported 2Q16 net sales of $1.7 billion, a fall of 3.2% compared to $1.8 billion in 2Q15. It reported charges of $46.0 million related to its Venezuelan subsidiaries in 2Q16. The company’s gross profit margin and operating profit rose 3.0% and 5.6%, respectively, in 2Q16, compared to the same period last year.
Its net income and EPS (earnings per share) rose to $49.6 million and $0.25, respectively, in 2Q16, compared to $28.1 million and $0.13, respectively, in 2Q15. It reported adjusted EPS of $0.65 in 2Q16, a rise of 8.3% compared to 2Q15.
Sealed Air’s cash and cash equivalents fell 17.0%, and its inventories rose 13.2% in 2Q16 compared to 4Q15. Its current ratio rose to 1.25x, and its debt-to-equity ratio fell to 11.8x in 2Q16, compared to its current and debt-to-equity ratios of 1.23x and 13.0x, respectively, in 4Q15.
Sealed Air has made the following projections for 2016:
- net sales of ~$6.9 billion
- adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.17 billion–$1.18 billion
- adjusted EPS at the high end of $2.52–$2.60, excluding the impact of special items
- adjusted tax rate of 24%
- free cash flow of ~$550 million, including capital expenditure of ~$275 million and cash restructuring payments of ~$110 million
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