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 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Truist Financial increased their price target on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup reduced their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Bank of America lowered their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Sealed Air Stock Performance

Shares of SEE stock traded down $0.27 on Tuesday, reaching $33.72. The stock had a trading volume of 2,877,803 shares, compared to its average volume of 1,117,974. The stock has a market cap of $4.91 billion, a P/E ratio of 12.40 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14. The company has a 50 day simple moving average of $34.44 and a 200 day simple moving average of $34.96.

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.