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

Sealed Air (NYSE:SEE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.000-3.100 for the period, compared to the consensus earnings per share 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.

Sealed Air Stock Performance

NYSE:SEE opened at $33.25 on Thursday. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 12.20 and a beta of 1.34. The firm’s 50-day moving average is $34.38 and its 200-day moving average is $34.95. Sealed Air has a 52-week low of $30.87 and a 52-week high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. Sealed Air’s payout ratio is currently 29.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SEE shares. Wells Fargo & Company reduced their target price on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Bank of America dropped their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup decreased their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley dropped their price objective on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.