Sealed Air (NYSE:SEE) Announces Earnings Results, Beats Expectations By $0.19 EPS

Sealed Air (NYSE:SEE) posted its earnings results on Thursday. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19, Briefing.com reports. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business earned $0.80 EPS. Sealed Air’s revenue for the quarter was down 2.6% compared to the same quarter last year.

Sealed Air Stock Down 6.9 %

Shares of NYSE SEE traded down $2.45 during trading hours on Friday, hitting $33.11. The company had a trading volume of 5,738,564 shares, compared to its average volume of 1,193,024. The stock has a market capitalization of $4.82 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 4.27 and a beta of 1.35. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. Sealed Air has a 1-year low of $28.50 and a 1-year high of $41.14. The firm’s 50 day moving average is $36.42 and its 200-day moving average is $35.75.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, September 13th. Sealed Air’s payout ratio is presently 32.13%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SEE shares. Wells Fargo & Company increased their target price on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday. William Blair reissued a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Truist Financial reissued a “buy” rating and set a $44.00 target price on shares of Sealed Air in a research note on Monday, June 17th. Royal Bank of Canada downgraded Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $43.00 to $40.00 in a research report on Friday, July 19th. Finally, Citigroup reduced their price target on Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Sealed Air currently has a consensus rating of “Hold” and a consensus target price of $42.60.

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.