Sealed Air (NYSE:SEE) Issues FY24 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.65-3.05 for the period, compared to the consensus EPS estimate of $2.85. The company issued revenue guidance of $5.2-5.6 billion, compared to the consensus revenue estimate of $5.39 billion. Sealed Air also updated its Q2 guidance to $0.60-0.70 EPS.

Analyst Ratings Changes

A number of equities analysts recently commented on SEE shares. Wells Fargo & Company raised Sealed Air from an equal weight rating to an overweight rating and increased their price target for the company from $35.00 to $43.00 in a research note on Thursday, January 11th. Wolfe Research initiated coverage on shares of Sealed Air in a report on Friday, March 1st. They issued a peer perform rating for the company. Mizuho lowered their price objective on shares of Sealed Air from $39.00 to $36.00 and set a neutral rating for the company in a research report on Friday. Finally, Truist Financial upgraded shares of Sealed Air from a hold rating to a buy rating and boosted their target price for the stock from $39.00 to $44.00 in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Sealed Air has a consensus rating of Hold and a consensus target price of $43.91.

Sealed Air Trading Up 0.7 %

Shares of SEE traded up $0.24 during mid-day trading on Friday, reaching $35.17. 2,460,783 shares of the company’s stock traded hands, compared to its average volume of 1,692,562. The stock has a market cap of $5.12 billion, a P/E ratio of 14.12, a P/E/G ratio of 3.86 and a beta of 1.31. Sealed Air has a 12 month low of $28.50 and a 12 month high of $47.12. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.79. The stock’s 50-day moving average is $34.34 and its two-hundred day moving average is $34.41.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.53 by $0.25. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. Research analysts forecast that Sealed Air will post 2.8 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a yield of 2.27%. Sealed Air’s dividend payout ratio (DPR) is currently 32.13%.

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.