Sealed Air (NYSE:SEE) Issues FY24 Earnings Guidance

Sealed Air (NYSE:SEE - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.00-3.10 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SEE. Jefferies Financial Group lowered Sealed Air from a "buy" rating to a "hold" rating and reduced their target price for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Truist Financial cut their price target on Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Raymond James upgraded Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target on the stock in a report on Thursday, October 17th. Royal Bank of Canada cut their price target on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a report on Thursday, October 17th. Finally, Morgan Stanley initiated coverage on Sealed Air in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price target on the stock. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sealed Air presently has an average rating of "Moderate Buy" and an average target price of $41.00.

Sealed Air Stock Performance

NYSE SEE traded down $1.53 during trading on Thursday, reaching $35.57. 2,334,361 shares of the company's stock were exchanged, compared to its average volume of 1,515,696. The business has a 50 day moving average price of $35.32 and a 200-day moving average price of $35.65. The stock has a market capitalization of $5.18 billion, a P/E ratio of 15.32, a PEG ratio of 9.18 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. Sealed Air has a fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings results 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 85.65% and a net margin of 6.64%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business's revenue was down 2.6% compared to the same quarter last year. Sell-side analysts forecast that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air's payout ratio is 32.26%.

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.