Sealed Air (NYSE:SEE) Posts Earnings Results

Sealed Air (NYSE:SEE) released its quarterly earnings results on Thursday. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12, Briefing.com reports. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Sealed Air updated its FY24 guidance to $3.00-3.10 EPS and its FY 2024 guidance to 3.000-3.100 EPS.

Sealed Air Price Performance

Shares of SEE stock traded up $0.47 on Monday, hitting $35.87. 1,515,160 shares of the company’s stock were exchanged, compared to its average volume of 1,517,555. The company has a 50 day moving average of $35.35 and a 200 day moving average of $35.73. The stock has a market cap of $5.23 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 8.82 and a beta of 1.34. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.23%. Sealed Air’s dividend payout ratio is presently 29.41%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their target price for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley initiated coverage on Sealed Air in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price objective on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

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.