Sealed Air (NYSE:SEE) Updates FY 2024 Earnings Guidance

Sealed Air (NYSE:SEE - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.650-3.050 for the period, compared to the consensus earnings per share estimate of 2.840. The company issued revenue guidance of $5.2 billion-$5.6 billion, compared to the consensus revenue estimate of $5.4 billion. Sealed Air also updated its Q2 2024 guidance to 0.600-0.700 EPS.

Sealed Air Stock Performance

SEE stock traded up $0.24 during midday trading on Friday, hitting $35.17. 2,460,783 shares of the company traded hands, compared to its average volume of 1,630,793. Sealed Air has a twelve month low of $28.50 and a twelve month high of $47.12. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 3.52 and a beta of 1.31. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 8.21. The business has a 50 day simple moving average of $34.37 and a 200-day simple moving average of $34.34.

Sealed Air (NYSE:SEE - Get Free Report) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.25. Sealed Air had a net margin of 6.22% and a return on equity of 107.48%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business posted $0.74 EPS. Sealed Air's revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Sealed Air will post 2.8 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air's dividend payout ratio is presently 33.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Mizuho lowered their price target on shares of Sealed Air from $39.00 to $36.00 and set a neutral rating on the stock in a report on Friday. Truist Financial upgraded shares of Sealed Air from a hold rating to a buy rating and raised their price target for the stock from $39.00 to $44.00 in a research note on Monday, April 8th. Wolfe Research started coverage on Sealed Air in a report on Friday, March 1st. They issued a peer perform rating for the company. Finally, Wells Fargo & Company raised shares of Sealed Air from an equal weight rating to an overweight rating and upped their target price for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $43.91.

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.