Sealed Air (NYSE:SEE) Issues Q3 Earnings Guidance

Sealed Air (NYSE:SEE) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.67 for the period, compared to the consensus earnings per share estimate of $0.72. The company issued revenue guidance of $1.33 billion, compared to the consensus revenue estimate of $1.36 billion. Sealed Air also updated its FY 2024 guidance to 2.650-3.050 EPS.

Wall Street Analyst Weigh In

SEE has been the subject of several research analyst reports. Royal Bank of Canada cut Sealed Air from an outperform rating to a sector perform rating and reduced their price objective for the stock from $43.00 to $40.00 in a research note on Friday, July 19th. StockNews.com upgraded shares of Sealed Air from a hold rating to a buy rating in a research note on Friday. Stifel Nicolaus began coverage on shares of Sealed Air in a report on Tuesday, July 9th. They issued a buy rating and a $47.00 price target on the stock. Mizuho upgraded Sealed Air from a neutral rating to a buy rating and lifted their price objective for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Finally, Jefferies Financial Group downgraded Sealed Air from a buy rating to a hold rating and lowered their target price for the stock from $47.00 to $35.00 in a research note on Friday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $42.60.

Sealed Air Stock Down 6.9 %

NYSE:SEE traded down $2.44 during trading hours on Friday, hitting $33.12. The company’s stock had a trading volume of 5,738,566 shares, compared to its average volume of 1,193,024. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. The stock has a fifty day moving average of $36.31 and a 200-day moving average of $35.73. The stock has a market capitalization of $4.82 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 4.27 and a beta of 1.35. Sealed Air has a 52-week low of $28.50 and a 52-week high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data 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. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts forecast that Sealed Air will post 2.86 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.42%. Sealed Air’s payout ratio is currently 32.13%.

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.