Sealed Air (NYSE:SEE) Releases Earnings Results, Beats Expectations By $0.25 EPS

Sealed Air (NYSE:SEE) posted its quarterly earnings data on Thursday. The industrial products company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25, Briefing.com reports. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. Sealed Air updated its Q2 guidance to $0.60-0.70 EPS and its FY24 guidance to $2.65-3.05 EPS.

Sealed Air Stock Up 0.7 %

SEE stock traded up $0.24 during trading on Friday, reaching $35.17. The stock had a trading volume of 2,460,783 shares, compared to its average volume of 1,692,562. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 7.49. The firm has a fifty day moving average price of $34.34 and a 200 day moving average price of $34.37. The company has a market capitalization of $5.12 billion, a P/E ratio of 14.12, a PEG ratio of 3.83 and a beta of 1.31. Sealed Air has a 1-year low of $28.50 and a 1-year high of $47.12.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air’s payout ratio is 32.13%.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised Sealed Air from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Wolfe Research began coverage on Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Mizuho dropped their price objective on shares of Sealed Air from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Truist Financial raised shares of Sealed Air from a “hold” rating to a “buy” rating and raised their target price for the stock from $39.00 to $44.00 in a research report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.91.

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.