Sealed Air (NYSE:SEE) Updates FY24 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.65-3.05 for the period, compared to the consensus earnings per share 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

SEE has been the topic of several research analyst reports. Wolfe Research assumed coverage on shares of Sealed Air in a research note on Friday, March 1st. They issued a peer perform rating on the stock. Truist Financial upgraded shares of Sealed Air from a hold rating to a buy rating and raised their price target for the stock from $39.00 to $44.00 in a research report on Monday, April 8th. Mizuho reduced their target price on shares of Sealed Air from $39.00 to $36.00 and set a neutral rating for the company in a research note on Friday. Finally, Wells Fargo & Company raised Sealed Air from an equal weight rating to an overweight rating and lifted their target price for the stock from $35.00 to $43.00 in a research report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $43.91.

Sealed Air Price Performance

NYSE:SEE traded up $0.24 during trading hours 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 quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. The stock has a 50-day moving average of $34.34 and a two-hundred day moving average of $34.41. Sealed Air has a one year low of $28.50 and a one year high of $47.12. The firm has a market capitalization of $5.12 billion, a PE ratio of 14.12, a PEG ratio of 3.86 and a beta of 1.31.

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

Sealed Air Dividend Announcement

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