Q3 2024 EPS Estimates for Sealed Air Co. (NYSE:SEE) Reduced by Analyst

Sealed Air Co. (NYSE:SEE) – Equities research analysts at Zacks Research decreased their Q3 2024 EPS estimates for shares of Sealed Air in a research note issued on Thursday, August 22nd. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $0.67 for the quarter, down from their prior forecast of $0.70. The consensus estimate for Sealed Air’s current full-year earnings is $2.91 per share. Zacks Research also issued estimates for Sealed Air’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.73 EPS and Q2 2025 earnings at $0.76 EPS.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $43.00 to $40.00 in a research note on Friday, July 19th. Truist Financial reissued a “buy” rating and set a $44.00 target price on shares of Sealed Air in a research note on Monday, June 17th. JPMorgan Chase & Co. lowered their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. UBS Group lowered their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Sealed Air has a consensus rating of “Moderate Buy” and an average price target of $42.10.

Sealed Air Stock Up 0.9 %

SEE stock opened at $34.88 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The firm’s 50-day simple moving average is $35.24 and its 200 day simple moving average is $35.58. The stock has a market cap of $5.08 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 8.43 and a beta of 1.35.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SEE. International Assets Investment Management LLC boosted its holdings in shares of Sealed Air by 6,254.6% in the fourth quarter. International Assets Investment Management LLC now owns 106,821 shares of the industrial products company’s stock worth $3,901,000 after buying an additional 105,140 shares during the period. Signaturefd LLC lifted its position in shares of Sealed Air by 43.2% in the fourth quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 462 shares in the last quarter. CWM LLC lifted its position in shares of Sealed Air by 27.6% in the fourth quarter. CWM LLC now owns 5,402 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 1,168 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Sealed Air by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 274,109 shares of the industrial products company’s stock worth $10,010,000 after purchasing an additional 3,370 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Sealed Air by 11.9% in the fourth quarter. New York State Common Retirement Fund now owns 560,755 shares of the industrial products company’s stock worth $20,479,000 after purchasing an additional 59,623 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s payout ratio is 32.13%.

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.