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 (EPS) guidance of 3.000-3.100 for the period, compared to the consensus 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.

Analysts Set New Price Targets

SEE has been the topic of several research reports. Citigroup reduced their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group decreased their price objective on Sealed Air from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Truist Financial raised their target price 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. Bank of America reduced 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. Finally, Wells Fargo & Company lowered their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Sealed Air Stock Down 0.8 %

Shares of 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 business has a 50 day simple moving average of $34.44 and a two-hundred day simple moving average of $34.96. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14. The firm has a market capitalization of $4.91 billion, a PE ratio of 12.40 and a beta of 1.34.

About Sealed Air

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.