KeyCorp Research Analysts Reduce Earnings Estimates for Steris Corp. (STE)
Steris Corp. (NYSE:STE) – Analysts at KeyCorp cut their Q3 2017 EPS estimates for Steris Corp. in a research report issued on Monday. KeyCorp analyst M. Mishan now forecasts that the firm will earn $1.02 per share for the quarter, down from their previous forecast of $1.03. KeyCorp also issued estimates for Steris Corp.’s FY2017 earnings at $3.85 EPS and FY2018 earnings at $4.26 EPS.
Steris Corp. (NYSE:STE) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Steris Corp. had a return on equity of 10.72% and a net margin of 5.52%. The business earned $638.40 million during the quarter, compared to analysts’ expectations of $639.04 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 45.1% on a year-over-year basis.
Separately, Zacks Investment Research cut Steris Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd.
Shares of Steris Corp. (NYSE:STE) opened at 71.98 on Wednesday. Steris Corp. has a 52 week low of $61.38 and a 52 week high of $78.77. The stock has a 50 day moving average price of $71.44 and a 200-day moving average price of $70.38. The firm has a market capitalization of $6.20 billion, a PE ratio of 41.34 and a beta of 1.14.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, August 30th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.56%. This is an increase from Steris Corp.’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, August 26th. Steris Corp.’s dividend payout ratio (DPR) is 68.71%.
In related news, CEO Walter M. Rosebrough, Jr. sold 15,000 shares of Steris Corp. stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $71.08, for a total value of $1,066,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Martin Steeves sold 204,778 shares of Steris Corp. stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $71.19, for a total value of $14,578,145.82. Following the completion of the transaction, the director now owns 165,434 shares of the company’s stock, valued at $11,777,246.46. The disclosure for this sale can be found here. 2.52% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of STE. Macquarie Group Ltd. increased its position in Steris Corp. by 0.5% in the second quarter. Macquarie Group Ltd. now owns 574,678 shares of the company’s stock worth $39,509,000 after buying an additional 2,716 shares during the period. Mason Street Advisors LLC purchased a new position in Steris Corp. during the second quarter worth approximately $2,696,000. Royal Bank of Canada increased its position in Steris Corp. by 6.5% in the second quarter. Royal Bank of Canada now owns 498,549 shares of the company’s stock worth $34,278,000 after buying an additional 30,415 shares during the period. Hendley & Co. Inc. increased its position in Steris Corp. by 1.5% in the second quarter. Hendley & Co. Inc. now owns 47,548 shares of the company’s stock worth $3,269,000 after buying an additional 700 shares during the period. Finally, Calvert Investment Management Inc. increased its position in Steris Corp. by 12.4% in the second quarter. Calvert Investment Management Inc. now owns 54,350 shares of the company’s stock worth $3,737,000 after buying an additional 6,009 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.
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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