Sealed Air (NYSE:SEE) Releases Q3 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.67 for the period, compared to the consensus estimate of $0.72. The company issued revenue guidance of $1.33 billion, compared to the consensus revenue estimate of $1.36 billion. Sealed Air also updated its FY 2024 guidance to 2.650-3.050 EPS.

Sealed Air Price Performance

Shares of SEE traded down $2.44 on Friday, reaching $33.12. The stock had a trading volume of 5,738,566 shares, compared to its average volume of 1,193,024. The firm has a market capitalization of $4.82 billion, a PE ratio of 13.30, a PEG 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. The firm has a 50-day moving average of $36.31 and a 200 day moving average of $35.73. Sealed Air has a twelve month low of $28.50 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Sell-side analysts expect that Sealed Air will post 2.86 EPS for the current year.

Sealed Air Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SEE shares. UBS Group lowered their target price on Sealed Air from $39.00 to $38.00 and set a neutral rating on the stock in a report on Wednesday, July 17th. William Blair restated a market perform rating on shares of Sealed Air in a report on Thursday, May 2nd. Wells Fargo & Company raised their price objective on Sealed Air from $43.00 to $44.00 and gave the stock an overweight rating in a report on Friday. Royal Bank of Canada cut Sealed Air from an outperform rating to a sector perform rating and decreased their price objective for the stock from $43.00 to $40.00 in a report on Friday, July 19th. Finally, Jefferies Financial Group cut Sealed Air from a buy rating to a hold rating and decreased their price objective for the stock from $47.00 to $35.00 in a report on Friday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy 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.