Sealed Air Co. (NYSE:SEE) to Post Q3 2024 Earnings of $1.08 Per Share, Zacks Research Forecasts

Posted by Defense World Staff on Jun 15th, 2023

Sealed Air Co. (NYSE:SEE – Get Rating) – Analysts at Zacks Research raised their Q3 2024 earnings estimates for shares of Sealed Air in a research report issued to clients and investors on Monday, June 12th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $1.08 per share for the quarter, up from their previous estimate of $1.07. The consensus estimate for Sealed Air’s current full-year earnings is $3.53 per share. Zacks Research also issued estimates for Sealed Air’s Q4 2024 earnings at $1.15 EPS.

Sealed Air (NYSE:SEE – Get Rating) last released its earnings results on Tuesday, May 2nd. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.03). Sealed Air had a net margin of 7.25% and a return on equity of 196.19%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Sealed Air’s quarterly revenue was down 4.9% compared to the same quarter last year.

A number of other analysts have also recently issued reports on SEE. Royal Bank of Canada dropped their price objective on Sealed Air from $58.00 to $54.00 in a report on Thursday, May 4th. Mizuho cut their price objective on Sealed Air from $56.00 to $49.00 in a report on Wednesday, May 31st. Morgan Stanley lowered Sealed Air from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $60.00 to $48.00 in a report on Tuesday, May 9th. StockNews.com initiated coverage on Sealed Air in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, UBS Group upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Wednesday, April 5th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.64.

Sealed Air Price Performance

Shares of SEE opened at $39.13 on Wednesday. Sealed Air has a 52-week low of $37.34 and a 52-week high of $62.14. The company has a debt-to-equity ratio of 13.39, a quick ratio of 0.64 and a current ratio of 1.19. The business’s 50 day moving average price is $43.06 and its two-hundred day moving average price is $47.61. The firm has a market cap of $5.65 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 4.63 and a beta of 1.24.

Hedge Funds Weigh In On Sealed Air

Hedge funds and other institutional investors have recently made changes to their positions in the business. Compass Wealth Management LLC acquired a new stake in shares of Sealed Air in the 4th quarter worth approximately $25,000. Whittier Trust Co. increased its position in Sealed Air by 54.2% in the 4th quarter. Whittier Trust Co. now owns 666 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 234 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Sealed Air by 251.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 742 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 531 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Sealed Air by 137.7% in the first quarter. Brown Brothers Harriman & Co. now owns 863 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 500 shares in the last quarter. Finally, Sandy Spring Bank bought a new stake in Sealed Air during the fourth quarter worth $42,000. Institutional investors and hedge funds own 89.63% of the company’s stock.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be issued a $0.20 dividend. The ex-dividend date is Thursday, June 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.04%. Sealed Air’s dividend payout ratio (DPR) is presently 28.88%.

About Sealed Air

(Get Rating)

Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

Earnings History and Estimates for Sealed Air (NYSE:SEE)

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