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

Sealed Air (NYSE:SEE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.000-3.100 for the period, compared to the consensus EPS 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 opened at $33.72 on Wednesday. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market cap of $4.91 billion, a PE ratio of 12.40 and a beta of 1.34. The company has a 50-day moving average of $34.44 and a 200 day moving average of $34.96. Sealed Air has a 1-year low of $30.87 and a 1-year high of $41.14.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SEE. UBS Group lowered their target price on Sealed Air from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America reduced their target price on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 6th. Citigroup lowered their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Mizuho cut their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.