Sealed Air (NYSE:SEE) Updates Q2 Earnings Guidance

Sealed Air (NYSE:SEE) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.60-0.70 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Sealed Air in a report on Friday, March 1st. They issued a peer perform rating for the company. Mizuho lowered their price target on Sealed Air from $39.00 to $36.00 and set a neutral rating for the company in a report on Friday. Truist Financial upgraded Sealed Air from a hold rating to a buy rating and lifted their price objective for the company from $39.00 to $44.00 in a report on Monday, April 8th. Finally, Wells Fargo & Company raised Sealed Air from an equal weight rating to an overweight rating and increased their target price for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $43.91.

Sealed Air Stock Up 0.7 %

Sealed Air stock traded up $0.24 during mid-day trading on Friday, reaching $35.17. The company’s stock had a trading volume of 2,460,783 shares, compared to its average volume of 1,692,562. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.79 and a current ratio of 1.33. Sealed Air has a 12 month low of $28.50 and a 12 month high of $47.12. The business’s 50 day simple moving average is $34.34 and its 200 day simple moving average is $34.41. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 3.86 and a beta of 1.31.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $0.74 EPS. Sealed Air’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Sealed Air will post 2.8 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Thursday, March 7th. Sealed Air’s dividend payout ratio is currently 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.