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 earnings per share (EPS) guidance of $2.65-3.05 for the period, compared to the consensus 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.

Sealed Air Trading Up 0.7 %

Shares of Sealed Air stock traded up $0.24 during midday trading on Friday, reaching $35.17. The company had a trading volume of 2,460,783 shares, compared to its average volume of 1,692,562. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.79. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $47.12. The stock has a fifty day moving average price of $34.34 and a 200 day moving average price of $34.41. The firm has a market cap of $5.12 billion, a PE ratio of 14.12, a P/E/G ratio of 3.86 and a beta of 1.31.

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

Sealed Air Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on SEE. Wolfe Research started coverage on Sealed Air in a research report on Friday, March 1st. They issued a peer perform rating for the company. Truist Financial upgraded shares of Sealed Air from a hold rating to a buy rating and upped their price target for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Wells Fargo & Company raised Sealed Air from an equal weight rating to an overweight rating and increased their price objective for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Finally, Mizuho cut their price target on shares of Sealed Air from $39.00 to $36.00 and set a neutral rating for the company in a report on Friday. Eight 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.com, the company presently has a consensus rating of Hold and a consensus price target of $43.91.

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.