Sealed Air (NYSE:SEE) Releases 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 (EPS) guidance of 3.000-3.100 for the period, compared to the consensus 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

Shares of NYSE SEE opened at $33.25 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The stock has a 50 day moving average of $34.38 and a 200-day moving average of $34.95. The company has a market capitalization of $4.84 billion, a P/E ratio of 12.20 and a beta of 1.34.

Sealed Air Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.41%. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SEE shares. Citigroup reduced their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Bank of America dropped their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial lifted their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, January 6th. Mizuho lowered their price target on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price target on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.00.

About Sealed Air

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.