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 (EPS) guidance of 3.000-3.100 for the period, compared to the consensus estimate of 2.980. The company issued revenue guidance of $5.4 billion-$5.4 billion, compared to the consensus revenue estimate of $5.4 billion. Sealed Air also updated its FY24 guidance to $3.00-3.10 EPS.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Morgan Stanley began coverage on shares of Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. Truist Financial decreased their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Trading Down 0.2 %

NYSE SEE traded down $0.06 during trading hours on Thursday, hitting $37.04. The company’s stock had a trading volume of 297,252 shares, compared to its average volume of 1,506,265. The stock has a fifty day moving average of $35.32 and a 200 day moving average of $35.65. Sealed Air has a twelve month low of $30.87 and a twelve month high of $41.14. The firm has a market capitalization of $5.40 billion, a P/E ratio of 15.32, a PEG ratio of 9.18 and a beta of 1.34. 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 (NYSE:SEE) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities research analysts forecast that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.16%. Sealed Air’s dividend payout ratio (DPR) is currently 32.26%.

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.