Sealed Air (NYSE:SEE) Issues FY24 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.00-3.10 for the period, compared to the consensus EPS estimate of $2.99. The company issued revenue guidance of $5.375-5.425 billion, compared to the consensus revenue estimate of $5.39 billion. Sealed Air also updated its FY 2024 guidance to 3.000-3.100 EPS.

Sealed Air Price Performance

SEE opened at $38.00 on Thursday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 9.18 and a beta of 1.34. Sealed Air has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The company’s 50-day moving average price is $35.32 and its 200 day moving average price is $35.65.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. Sealed Air’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, sell-side analysts expect that Sealed Air will post 2.93 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.11%. Sealed Air’s dividend payout ratio (DPR) is presently 32.26%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Morgan Stanley started coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target on the stock. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. UBS Group decreased their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Company upped their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.00.

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.