FY2024 EPS Estimates for Sealed Air Lifted by William Blair

Sealed Air Co. (NYSE:SEE) – Equities researchers at William Blair upped their FY2024 earnings per share (EPS) estimates for shares of Sealed Air in a research report issued on Thursday, November 7th. William Blair analyst R. Sparenblek now anticipates that the industrial products company will earn $3.05 per share for the year, up from their prior forecast of $2.90. The consensus estimate for Sealed Air’s current full-year earnings is $3.05 per share. William Blair also issued estimates for Sealed Air’s Q4 2024 earnings at $0.66 EPS and FY2025 earnings at $2.95 EPS.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis.

Several other research analysts also recently weighed in on SEE. Wells Fargo & Company boosted their target price on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Morgan Stanley began coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target on the stock. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Royal Bank of Canada dropped their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Price Performance

NYSE SEE opened at $35.60 on Monday. The firm’s fifty day simple moving average is $35.38 and its two-hundred day simple moving average is $35.79. The firm has a market capitalization of $5.19 billion, a P/E ratio of 13.09, a P/E/G ratio of 8.82 and a beta of 1.34. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air has a 12-month low of $30.87 and a 12-month high of $41.14.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.25%. Sealed Air’s dividend payout ratio is presently 29.41%.

Institutional Trading of Sealed Air

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Sealed Air by 3.7% in the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after acquiring an additional 600,146 shares during the period. Millennium Management LLC increased its stake in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Sealed Air in the 3rd quarter worth about $139,800,000. Earnest Partners LLC boosted its position in Sealed Air by 7.3% during the first quarter. Earnest Partners LLC now owns 2,500,378 shares of the industrial products company’s stock worth $93,014,000 after purchasing an additional 170,846 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Sealed Air by 33.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after purchasing an additional 479,675 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

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.