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

Sealed Air (NYSE:SEE) released its quarterly 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 6.22% and a return on equity of 107.48%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned $0.74 earnings per share. The firm’s revenue 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 Price Performance

NYSE:SEE traded up $0.24 during trading hours on Friday, hitting $35.17. The stock had a trading volume of 2,460,783 shares, compared to its average volume of 1,630,793. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 3.52 and a beta of 1.31. Sealed Air has a one year low of $28.50 and a one year high of $47.12. The company has a 50 day simple moving average of $34.37 and a two-hundred day simple moving average of $34.34. The company has a debt-to-equity ratio of 8.21, a current ratio of 1.30 and a quick ratio of 0.79.

Sealed Air Dividend Announcement

The company 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. 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 dividend payout ratio (DPR) is presently 33.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SEE shares. Truist Financial raised Sealed Air from a “hold” rating to a “buy” rating and raised their target price for the company from $39.00 to $44.00 in a research report on Monday, April 8th. Wells Fargo & Company upgraded shares of Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $43.00 in a research note on Thursday, January 11th. Mizuho decreased their price target 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, Wolfe Research started coverage on Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Hold” and a consensus price target 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.