Sealed Air (NYSE:SEE) Updates FY24 Earnings Guidance

Sealed Air (NYSE:SEE) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.65-3.05 for the period, compared to the consensus earnings per share estimate of $2.85. The company issued revenue guidance of $5.2-5.6 billion, compared to the consensus revenue estimate of $5.39 billion. Sealed Air also updated its Q2 guidance to $0.60-0.70 EPS.

Wall Street Analyst Weigh In

A number of research firms have commented on SEE. Wells Fargo & Company upgraded Sealed Air from an equal weight rating to an overweight rating and upped their price target for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Mizuho lowered their target price on Sealed Air from $40.00 to $39.00 and set a neutral rating for the company in a report on Wednesday, February 28th. Truist Financial upgraded shares of Sealed Air from a hold rating to a buy rating and boosted their price target for the stock from $39.00 to $44.00 in a research note on Monday, April 8th. Finally, Wolfe Research began coverage on shares of Sealed Air in a research note on Friday, March 1st. They issued a peer perform rating for the company. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $44.18.

Sealed Air Stock Performance

NYSE:SEE opened at $32.11 on Thursday. Sealed Air has a 12 month low of $28.50 and a 12 month high of $47.25. The company has a debt-to-equity ratio of 8.21, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market capitalization of $4.68 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 3.46 and a beta of 1.31. The business’s fifty day moving average price is $34.45 and its 200 day moving average price is $34.35.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. On average, sell-side analysts anticipate that Sealed Air will post 2.8 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air’s payout ratio is 33.90%.

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.