Sealed Air (NYSE:SEE) Releases FY24 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.65-3.05 for the period, compared to the consensus estimate of $2.88. The company issued revenue guidance of $5.20-5.60 billion, compared to the consensus revenue estimate of $5.39 billion. Sealed Air also updated its FY 2024 guidance to 2.650-3.050 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SEE. Jefferies Financial Group downgraded shares of Sealed Air from a buy rating to a hold rating and dropped their price target for the company from $47.00 to $35.00 in a report on Friday. Stifel Nicolaus started coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They set a buy rating and a $47.00 target price on the stock. Mizuho upgraded shares of Sealed Air from a neutral rating to a buy rating and raised their target price for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Royal Bank of Canada lowered shares of Sealed Air from an outperform rating to a sector perform rating and cut their price objective for the company from $43.00 to $40.00 in a report on Friday, July 19th. Finally, StockNews.com raised shares of Sealed Air from a hold rating to a buy rating 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. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $42.60.

Sealed Air Trading Down 6.9 %

Shares of NYSE SEE traded down $2.44 during mid-day trading on Friday, reaching $33.12. 5,738,566 shares of the company’s stock were exchanged, compared to its average volume of 1,193,024. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 4.27 and a beta of 1.35. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33. Sealed Air has a 52-week low of $28.50 and a 52-week high of $41.14. The company’s 50-day moving average is $36.31 and its 200-day moving average is $35.73.

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 during 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 period in the prior year, the business posted $0.80 EPS. Analysts expect that Sealed Air will post 2.86 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 of this dividend is Friday, September 13th. Sealed Air’s dividend payout ratio (DPR) is 32.13%.

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.