Sealed Air (NYSE:SEE) Updates Q2 Earnings Guidance

Sealed Air (NYSE:SEE) updated its second quarter earnings guidance on Thursday morning. The company provided EPS 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.

Sealed Air Price Performance

Shares of NYSE:SEE traded up $0.24 during trading on Friday, hitting $35.17. 2,460,783 shares of the stock were exchanged, compared to its average volume of 1,692,562. The company has a market cap of $5.12 billion, a PE ratio of 14.12, a P/E/G ratio of 3.86 and a beta of 1.31. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 7.49. The company has a fifty day moving average price of $34.34 and a two-hundred day moving average price of $34.41. Sealed Air has a 12-month low of $28.50 and a 12-month high of $47.12.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $0.74 earnings per share. Sealed Air’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that Sealed Air will post 2.8 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.80 annualized dividend and a yield of 2.27%. Sealed Air’s dividend payout ratio (DPR) is currently 32.13%.

Analyst Ratings Changes

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

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.