Sealed Air (NYSE:SEE – Get Free Report) issued its quarterly earnings results on Thursday. The industrial products company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.25, Briefing.com reports. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Sealed Air updated its Q2 guidance to $0.60-0.70 EPS and its FY24 guidance to $2.65-3.05 EPS.
Sealed Air Stock Performance
Shares of NYSE SEE traded up $0.24 during midday trading on Friday, hitting $35.17. 2,460,783 shares of the company’s stock traded hands, compared to its average volume of 1,692,562. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.79 and a current ratio of 1.33. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 3.83 and a beta of 1.31. The firm has a fifty day moving average of $34.34 and a 200 day moving average of $34.37. Sealed Air has a 1 year low of $28.50 and a 1 year high of $47.12.
Sealed Air Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a yield of 2.27%. Sealed Air’s payout ratio is 32.13%.
Analyst Ratings Changes
Read Our Latest Stock Analysis on Sealed Air
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.
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