Sealed Air (NYSE:SEE) Updates 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 Price Performance

Shares of SEE stock traded down $0.27 during midday trading on Tuesday, reaching $33.72. 2,877,803 shares of the company were exchanged, compared to its average volume of 1,117,974. The company’s 50 day moving average price is $34.51 and its two-hundred day moving average price is $34.98. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The company has a market cap of $4.91 billion, a P/E ratio of 12.40 and a beta of 1.34. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SEE shares. Wells Fargo & Company lowered their price target on Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Citigroup dropped their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America reduced their price objective on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley cut their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sealed Air has an average rating of “Moderate Buy” and a consensus 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.