Sealed Air (NYSE:SEE) Releases Q3 2024 Earnings Guidance

Sealed Air (NYSE:SEE) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.670-0.670 for the period, compared to the consensus estimate of 0.720. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.4 billion. Sealed Air also updated its FY 2024 guidance to 2.650-3.050 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada cut Sealed Air from an outperform rating to a sector perform rating and reduced their target price for the stock from $43.00 to $40.00 in a report on Friday, July 19th. StockNews.com upgraded Sealed Air from a hold rating to a buy rating in a report on Friday. Jefferies Financial Group cut Sealed Air from a buy rating to a hold rating and cut their price objective for the company from $47.00 to $35.00 in a report on Friday. UBS Group cut their price objective on Sealed Air from $39.00 to $38.00 and set a neutral rating on the stock in a report on Wednesday, July 17th. Finally, Truist Financial reiterated a buy rating and set a $44.00 price objective on shares of Sealed Air in a report on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $42.60.

Sealed Air Stock Down 6.9 %

Sealed Air stock traded down $2.44 during midday trading on Friday, reaching $33.12. The stock had a trading volume of 5,738,566 shares, compared to its average volume of 1,193,024. 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 1-year low of $28.50 and a 1-year high of $41.14. The firm’s fifty day simple moving average is $36.31 and its 200-day simple moving average is $35.73. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.19. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, analysts expect that Sealed Air will post 2.86 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, September 13th. Sealed Air’s dividend payout ratio (DPR) is 32.13%.

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.