Brokers Offer Predictions for Steris Corp.’s Q1 2018 Earnings (STE)
Steris Corp. (NYSE:STE) – Investment analysts at Northcoast Research dropped their Q1 2018 earnings per share (EPS) estimates for shares of Steris Corp. in a report issued on Wednesday. Northcoast Research analyst D. Keiser now expects that the brokerage will post earnings of $0.94 per share for the quarter, down from their prior forecast of $0.95.
Steris Corp. (NYSE:STE) last posted its earnings results on Tuesday, August 9th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Steris Corp. had a net margin of 5.52% and a return on equity of 10.72%. The business earned $638.40 million during the quarter, compared to the consensus estimate of $639.04 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s revenue was up 45.1% on a year-over-year basis.
Separately, Zacks Investment Research upgraded shares of Steris Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 26th.
Shares of Steris Corp. (NYSE:STE) opened at 73.10 on Friday. The firm has a 50-day moving average of $71.34 and a 200-day moving average of $70.24. Steris Corp. has a 52-week low of $61.38 and a 52-week high of $78.77. The company has a market cap of $6.30 billion, a P/E ratio of 41.99 and a beta of 1.16.
A number of large investors have recently bought and sold shares of STE. Bessemer Group Inc. boosted its stake in Steris Corp. by 85.8% in the second quarter. Bessemer Group Inc. now owns 1,942 shares of the company’s stock worth $134,000 after buying an additional 897 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Steris Corp. by 334.9% in the second quarter. CENTRAL TRUST Co now owns 2,857 shares of the company’s stock worth $196,000 after buying an additional 2,200 shares during the last quarter. BKD Wealth Advisors LLC purchased a new stake in Steris Corp. during the second quarter worth approximately $208,000. Azimuth Capital Management LLC purchased a new stake in Steris Corp. during the second quarter worth approximately $234,000. Finally, Massmutual Trust Co. FSB ADV purchased a new stake in Steris Corp. during the first quarter worth approximately $250,000. 91.58% of the stock is owned by institutional investors.
In related news, Director Richard Martin Steeves sold 204,778 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $71.19, for a total transaction of $14,578,145.82. Following the completion of the sale, the director now owns 165,434 shares of the company’s stock, valued at $11,777,246.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $71.08, for a total transaction of $1,066,200.00. The disclosure for this sale can be found here. Corporate insiders own 2.52% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, August 30th were given a dividend of $0.28 per share. This is a boost from Steris Corp.’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, August 26th. This represents a $1.12 dividend on an annualized basis and a yield of 1.53%. Steris Corp.’s dividend payout ratio is presently 68.71%.
About Steris Corp.
STERIS Corporation (STERIS) is a provider of infection prevention and other procedural products and services. The Company is focused on healthcare, pharmaceutical and research. The Company operates through three business segments: Healthcare, Life Sciences and STERIS Isomedix Services. The Healthcare segment provides surgical, sterile processing, infection prevention and gastrointestinal solutions.
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