Sealed Air (NYSE:SEE) Issues Q2 Earnings Guidance

Sealed Air (NYSE:SEE) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.60-0.70 for the period, compared to the consensus estimate of $0.70. The company issued revenue guidance of ~$1.3 billion, compared to the consensus revenue estimate of $1.33 billion. Sealed Air also updated its FY24 guidance to $2.65-3.05 EPS.

Sealed Air Trading Up 2.0 %

Shares of SEE opened at $32.11 on Thursday. The stock’s 50-day moving average price is $34.45 and its 200 day moving average price is $34.35. 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 firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 3.46 and a beta of 1.31. Sealed Air has a 12-month low of $28.50 and a 12-month high of $47.25.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. Sealed Air’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, research analysts predict that Sealed Air will post 2.8 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, March 7th. Sealed Air’s payout ratio is 33.90%.

Wall Street Analyst Weigh In

SEE has been the subject of a number of analyst reports. Wells Fargo & Company upgraded shares of Sealed Air from an equal weight rating to an overweight rating and raised their price target for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Mizuho cut their target price on Sealed Air from $40.00 to $39.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Truist Financial raised Sealed Air from a hold rating to a buy rating and boosted their price target for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Finally, Wolfe Research initiated coverage on Sealed Air in a research note on Friday, March 1st. They set a peer perform rating for the company. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Sealed Air currently has a consensus rating of Hold and a consensus price target of $44.18.

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.