Sealed Air (NYSE:SEE) Posts Earnings Results, Beats Estimates By $0.13 EPS

Sealed Air (NYSE:SEE) announced its earnings results on Thursday. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13, Briefing.com reports. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. 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

NYSE:SEE traded down $0.17 during mid-day trading on Friday, hitting $35.40. 1,868,990 shares of the stock traded hands, compared to its average volume of 1,517,333. The company has a market cap of $5.16 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 9.39 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 business’s 50-day moving average price is $35.34 and its 200 day moving average price is $35.65. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.26%. Sealed Air’s dividend payout ratio is currently 29.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their price objective for the company from $47.00 to $35.00 in a report on Friday, August 9th. 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 note on Thursday, October 17th. Finally, Wells Fargo & Company upped their price target on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and an average price target 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.