Sealed Air (NYSE:SEE) Issues FY 2024 Earnings Guidance

Sealed Air (NYSE:SEE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.650-3.050 for the period, compared to the consensus earnings per share estimate of 2.880. The company issued revenue guidance of $5.2 billion-$5.6 billion, compared to the consensus revenue estimate of $5.4 billion. Sealed Air also updated its FY24 guidance to $2.65-3.05 EPS.

Sealed Air Trading Down 6.9 %

Shares of Sealed Air stock traded down $2.44 during trading hours on Friday, hitting $33.12. The company’s stock had a trading volume of 5,738,566 shares, compared to its average volume of 1,193,024. Sealed Air has a 12 month low of $28.50 and a 12 month high of $41.14. The stock has a 50 day moving average of $36.31 and a 200 day moving average of $35.73. The company has a market capitalization of $4.82 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 4.27 and a beta of 1.35. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.80.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The firm 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 firm posted $0.80 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts predict that Sealed Air will post 2.86 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. Sealed Air’s dividend payout ratio (DPR) is currently 32.13%.

Analysts Set New Price Targets

SEE has been the topic of a number of research reports. Truist Financial reaffirmed a buy rating and set a $44.00 price target on shares of Sealed Air in a research note on Monday, June 17th. Jefferies Financial Group downgraded Sealed Air from a buy rating to a hold rating and dropped their price target for the stock from $47.00 to $35.00 in a research note on Friday. UBS Group lowered their price objective on Sealed Air from $39.00 to $38.00 and set a neutral rating for the company in a research note on Wednesday, July 17th. Mizuho raised Sealed Air from a neutral rating to a buy rating and increased their price objective for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Finally, Royal Bank of Canada downgraded Sealed Air from an outperform rating to a sector perform rating and lowered their price objective for the stock from $43.00 to $40.00 in a research note on Friday, July 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Sealed Air currently has an average rating of Moderate Buy and an average target price of $42.60.

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.