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

Sealed Air (NYSE:SEE) released its earnings results 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. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.74 EPS. Sealed Air’s revenue for the quarter was down 1.4% on a year-over-year basis. Sealed Air updated its Q2 guidance to $0.60-0.70 EPS and its FY24 guidance to $2.65-3.05 EPS.

Sealed Air Trading Up 0.7 %

Shares of NYSE:SEE traded up $0.24 during trading on Friday, hitting $35.17. The company had a trading volume of 2,460,783 shares, compared to its average volume of 1,692,562. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 3.83 and a beta of 1.31. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.79. The company has a fifty day simple moving average of $34.34 and a two-hundred day simple moving average of $34.37. Sealed Air has a one year low of $28.50 and a one year high of $47.12.

Sealed Air Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $35.00 to $43.00 in a research report on Thursday, January 11th. Mizuho dropped their price target on Sealed Air from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and lifted their price objective for the company from $39.00 to $44.00 in a research report on Monday, April 8th. Finally, Wolfe Research began coverage on shares of Sealed Air in a research note on Friday, March 1st. They set a “peer perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Sealed Air presently has a consensus rating of “Hold” and an average target price of $43.91.

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.