Sealed Air CorporationNYSE
Thu, Oct. 27, 9:14 AM
Thu, Oct. 27, 7:33 AM
Wed, Oct. 26, 5:30 PM
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Tue, Oct. 18, 10:42 AM
- Sealed Air (SEE +0.2%) is slightly higher on news of its plan to pursue a spinoff of its Diversey Care division and the food hygiene and cleaning business within its Food Care division.
- SEE says it expects the deal to be completed in H2 2017 and is intended to qualify as a tax-free distribution to shareholders for federal income tax purposes.
- Ilham Kadri, the current president of the Diversey Care division, would be the CEO of the spinoff company.
- Diversey Care generated $2.6B in sales of the $7B in total SEE earnings for the year ended June 30.
Thu, Oct. 6, 5:03 PM
Thu, Jul. 28, 7:32 AM
Wed, Jul. 27, 5:30 PM
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Fri, Jul. 15, 11:46 AM
- Sealed Air (SEE +1.9%) is upgraded to Buy from Neutral with a $56 price target, up from $54, at Citigroup, which thinks investor concerns over the lack of full-year guidance raise, coupled with concerns on emerging markets and Brexit, are overdone.
- Citi expects SEE to benefit in H2 from easier organic sales comps, "with earnings growth driven by increased momentum in the U.S. beef cycle, continued growth in e-commerce sales and customer wins in Diversey."
- The firm notes that SEE booked 10% machinery growth in Q1, which typically is a leading indicator of future sales.
Thu, Jul. 7, 4:31 PM
Thu, Apr. 28, 10:36 AM
- Sealed Air (SEE -6%) reports net sales fell 2.4% on a constant currency basis but rose 1.5% on an organic basis in Q1.
- Segment revenue: Food Care: $764.7M (-13.1%); Diversey Care: $441.4M (-5.7%); Product Care: $367.2M (-3.3%).
- Adjusted gross margin rate squeezed 10 bps to 37.1%.
- Adjusted SG&A expense rate grew 50 bps to 24.5%.
- Adjusted operating margin rate decreased 70 bps to 11.3%.
- Adjusted EBITDA margin rate slipped 100 bps to 15.3%.
- FY2016 Guidance: Net sales: ~$6.8B; Adjusted EBITDA: $1.17B to $1.19B (+7% to +9%); Adjusted EPS: $2.52 to $2.60; Adjusted tax rate: 24%; Free cash flow: ~$550M; Capex: ~$275M.
Thu, Apr. 28, 7:33 AM
- Sealed Air (NYSE:SEE): Q1 EPS of $0.50 beats by $0.02.
- Revenue of $1.59B (-9.1% Y/Y) misses by $20M.
Wed, Apr. 27, 5:30 PM
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Thu, Apr. 21, 3:43 PM
- The majority of corporate buybacks in recent years have been "purely an exercise in financial engineering with very little fundamental foundation,” says Ted Theodore, portfolio manager of the TrimTabs Float Shrink ETF (NYSEARCA:TTFS).
- There are exceptions though, and he points to those companies using free cash flow rather than debt to finance repurchases.
- Overall, he says, buybacks have had "some modest artificial positive effect" on stock prices. What about rate hikes? Those firms using debt to fund repurchases will suffer the most. As for his fund, it focuses on companies using free cash flow for buybacks, so bring on higher rates.
- Of his fund's holdings, cyclicals with large domestic exposure are favorites: Packaging Corp. of America (PKG +1.8%), Sealed Air (SEE -1.2%), and UPS (UPS -1.1%).
- Buyback ETFs: PKW, SYLD, TTFS, SPYB
Mon, Apr. 18, 10:41 AM
- Sealed Air (SEE +1.5%) is higher following a positive Barron's weekend profile that says its shares could rise 30% in the next 12 months if the company keeps making progress on growth targets.
- Though not cheap by most metrics, SEE still sells for less than it did at last summer’s peak, and its valuation appears more reasonable given the company’s prospects for 10%-plus EPS growth through 2018.
- Also, a cattle boom could help lift sales in SEE's fresh red-meat business, which provides 48% of the $6.8B in annual revenue from the company's food care division.
- Now read Sealed Air is another beneficiary of the dimensional weight pricing environment
Mon, Mar. 21, 4:41 PM
- Sealed Air (NYSE:SEE) declares $0.16/share quarterly dividend, 23.1% increase from prior dividend of $0.13.
- Forward yield 1.36%
- Payable June 17; for shareholders of record June 3; ex-div June 1.
Wed, Feb. 17, 4:36 PM
- Sealed Air (NYSE:SEE) declares $0.13/share quarterly dividend, in line with previous.
- Forward yield 1.21%
- Payable March 18; for shareholders of record March 4; ex-div March 2.