Sealed Air (NYSE:SEE) Releases FY 2024 Earnings Guidance

Sealed Air (NYSE:SEE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.000-3.100 for the period, compared to the consensus earnings per share 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 Down 0.8 %

NYSE SEE traded down $0.27 during trading on Tuesday, reaching $33.72. The company’s stock had a trading volume of 2,877,803 shares, compared to its average volume of 1,117,974. The business has a 50-day moving average price of $34.51 and a 200-day moving average price of $34.98. Sealed Air has a 1-year low of $30.87 and a 1-year high of $41.14. The stock has a market capitalization of $4.91 billion, a PE ratio of 12.40 and a beta of 1.34. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Analysts Set New Price Targets

Several analysts have recently issued reports on SEE shares. Mizuho decreased their price target on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Bank of America dropped their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group decreased their price objective on shares of Sealed Air from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Morgan Stanley dropped their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.