Sealed Air (NYSE:SEE) Issues Q2 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.60-0.70 for the period, compared to the consensus earnings per share estimate of $0.70. The company issued revenue guidance of ~$1.3 billion, compared to the consensus revenue estimate of $1.33 billion. Sealed Air also updated its FY24 guidance to $2.65-3.05 EPS.

Sealed Air Stock Up 0.7 %

SEE stock traded up $0.24 during mid-day 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 firm has a fifty day simple moving average of $34.34 and a 200 day simple moving average of $34.41. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.79 and a current ratio of 1.33. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 3.86 and a beta of 1.31. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $47.12.

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

Sealed Air Announces Dividend

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

Wall Street Analyst Weigh In

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