Sealed Air (SEE) Set to Announce Quarterly Earnings on Thursday

Sealed Air (NYSE:SEE) is set to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Sealed Air has set its FY24 guidance at $2.65-3.05 EPS and its FY 2024 guidance at 2.650-3.050 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.26. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. Sealed Air’s revenue was down 2.0% on a year-over-year basis. On average, analysts expect Sealed Air to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sealed Air Stock Performance

SEE opened at $31.82 on Tuesday. Sealed Air has a 52-week low of $28.50 and a 52-week high of $48.44. The firm has a market capitalization of $4.63 billion, a PE ratio of 13.48, a PEG ratio of 3.48 and a beta of 1.28. The company has a debt-to-equity ratio of 8.21, a quick ratio of 0.79 and a current ratio of 1.30. The business’s 50-day simple moving average is $34.55 and its 200 day simple moving average is $34.34.

Sealed Air Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a yield of 2.51%. Sealed Air’s payout ratio is presently 33.90%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SEE. Truist Financial upgraded Sealed Air from a “hold” rating to a “buy” rating and upped their price objective for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Wolfe Research initiated coverage on Sealed Air in a research note on Friday, March 1st. They set a “peer perform” rating for the company. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Finally, Mizuho dropped their price target on Sealed Air from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.18.

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.