Sealed Air (NYSE:SEE) Issues 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 guidance of $0.67 for the period, compared to the consensus earnings per share 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 Sealed Air stock traded down $2.44 during mid-day trading on Friday, reaching $33.12. 5,738,566 shares of the stock traded hands, compared to its average volume of 1,193,024. The stock 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 business has a 50-day moving average of $36.31 and a 200 day moving average of $35.73. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data 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 net margin of 6.61% and a return on equity of 94.93%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, analysts predict that Sealed Air will post 2.86 EPS for the current year.

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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, September 13th. Sealed Air’s dividend payout ratio is currently 32.13%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group lowered Sealed Air from a buy rating to a hold rating and decreased their target price for the company from $47.00 to $35.00 in a report on Friday. William Blair reiterated a market perform rating on shares of Sealed Air in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Sealed Air from a hold rating to a buy rating in a research note on Friday. Stifel Nicolaus initiated coverage on shares of Sealed Air in a report on Tuesday, July 9th. They issued a buy rating and a $47.00 target price on the stock. Finally, Truist Financial reiterated a buy rating and set a $44.00 price target on shares of Sealed Air in a report on Monday, June 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.