Sealed Air (NYSE:SEE) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

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

Shares of NYSE SEE traded down $0.17 during mid-day trading on Friday, hitting $35.40. The stock had a trading volume of 1,868,990 shares, compared to its average volume of 1,517,333. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30. Sealed Air has a twelve month low of $30.87 and a twelve month high of $41.14. The firm has a market cap of $5.16 billion, a PE ratio of 13.01, a PEG ratio of 9.39 and a beta of 1.34. The company has a 50 day moving average of $35.34 and a two-hundred day moving average of $35.65.

Sealed Air Dividend Announcement

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 given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.26%. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SEE shares. Wells Fargo & Company increased their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. Truist Financial lowered their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, UBS Group decreased their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.