Sealed Air (SEE) Set to Announce Quarterly Earnings on Thursday

Sealed Air (NYSE:SEE) is set to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Sealed Air has set its FY24 guidance at $2.65-3.05 EPS and its FY 2024 guidance at 2.650-3.050 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. On average, analysts expect Sealed Air to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sealed Air Price Performance

NYSE:SEE opened at $31.52 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 8.21. The company has a market capitalization of $4.59 billion, a P/E ratio of 13.34, a P/E/G ratio of 3.48 and a beta of 1.28. Sealed Air has a 12 month low of $28.50 and a 12 month high of $48.44. The business’s 50-day moving average is $34.55 and its 200 day moving average is $34.34.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.54%. Sealed Air’s dividend payout ratio (DPR) is presently 33.90%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SEE. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Truist Financial upgraded Sealed Air from a “hold” rating to a “buy” rating and raised their price objective for the stock from $39.00 to $44.00 in a report on Monday, April 8th. Mizuho reduced their price objective on Sealed Air from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Wolfe Research assumed coverage on Sealed Air in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Eight 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 company presently has an average rating of “Hold” and an average price target of $44.18.

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.