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

Sealed Air (NYSE:SEE - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.000-3.100 for the period, compared to the consensus estimate of 3.050. The company issued revenue guidance of $5.4 billion-$5.4 billion, compared to the consensus revenue estimate of $5.4 billion.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SEE shares. Citigroup dropped their price target on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. UBS Group dropped their target price on shares of Sealed Air from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Truist Financial increased their price target on Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Mizuho dropped their price objective on Sealed Air from $45.00 to $42.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

Sealed Air Stock Down 2.2 %

Shares of SEE traded down $0.74 during trading hours on Friday, reaching $32.32. The stock had a trading volume of 1,645,627 shares, compared to its average volume of 1,150,380. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 11.88 and a beta of 1.34. The firm has a 50-day simple moving average of $34.25 and a 200 day simple moving average of $34.92. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. Sealed Air's dividend payout ratio is currently 29.41%.

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.