Sealed Air (NYSE:SEE) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Sealed Air (NYSE:SEE) issued its quarterly earnings data on Thursday. The industrial products company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13, Briefing.com reports. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $0.77 EPS. The company’s revenue was down 2.7% on a year-over-year basis. Sealed Air updated its FY24 guidance to $3.00-3.10 EPS and its FY 2024 guidance to 3.000-3.100 EPS.

Sealed Air Trading Down 0.5 %

Shares of SEE stock traded down $0.17 during mid-day trading on Friday, reaching $35.40. The company’s stock had a trading volume of 1,869,124 shares, compared to its average volume of 1,517,334. The company’s 50 day simple moving average is $35.34 and its 200-day simple moving average is $35.65. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. Sealed Air has a 12-month low of $30.87 and a 12-month high of $41.14. The firm has a market capitalization of $5.16 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 9.39 and a beta of 1.34.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

Analyst Ratings Changes

SEE has been the subject of several recent research reports. Truist Financial dropped their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. UBS Group reduced their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price objective on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and dropped their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sealed Air currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Company Profile

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.