Analysts Expect STERIS PLC (STE) Will Announce Quarterly Sales of $622.87 Million
Analysts predict that STERIS PLC (NYSE:STE) will report sales of $622.87 million for the current quarter, according to Zacks. Three analysts have made estimates for STERIS PLC’s earnings, with the highest sales estimate coming in at $629.00 million and the lowest estimate coming in at $618.30 million. STERIS PLC reported sales of $646.42 million in the same quarter last year, which indicates a negative year-over-year growth rate of 3.6%. The company is scheduled to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that STERIS PLC will report full year sales of $622.87 million for the current fiscal year, with estimates ranging from $2.55 billion to $2.56 billion. For the next financial year, analysts anticipate that the company will post sales of $2.68 billion per share, with estimates ranging from $2.67 billion to $2.68 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover STERIS PLC.
STERIS PLC (NYSE:STE) last issued its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. STERIS PLC had a net margin of 4.63% and a return on equity of 11.39%. The company had revenue of $608 million during the quarter, compared to analysts’ expectations of $597.66 million. During the same period last year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year.
A number of brokerages have recently weighed in on STE. Raymond James Financial, Inc. upped their price target on shares of STERIS PLC from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Investment Research raised shares of STERIS PLC from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Tuesday, July 11th. Wellington Shields lowered shares of STERIS PLC from a “gradually accumulate” rating to a “hold” rating in a research note on Monday, June 5th. BidaskClub lowered shares of STERIS PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, KeyCorp raised shares of STERIS PLC from a “sector weight” rating to an “overweight” rating and set a $89.00 price target for the company in a research note on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $86.75.
STERIS PLC (STE) opened at 86.23 on Thursday. STERIS PLC has a one year low of $63.80 and a one year high of $87.49. The stock has a market capitalization of $7.33 billion, a PE ratio of 67.37 and a beta of 1.33. The firm has a 50-day moving average of $82.41 and a 200-day moving average of $74.89.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Tuesday, August 29th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 25th. This is a positive change from STERIS PLC’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.44%. STERIS PLC’s dividend payout ratio is currently 80.00%.
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In related news, VP Sudhir K. Pahwa sold 800 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $77.28, for a total transaction of $61,824.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael B. Wood sold 4,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $81.50, for a total transaction of $326,000.00. Following the sale, the director now directly owns 26,131 shares of the company’s stock, valued at $2,129,676.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,340 shares of company stock valued at $2,432,704. Company insiders own 2.55% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in STE. Private Harbour Investment Management & Counsel LLC raised its stake in STERIS PLC by 0.4% in the second quarter. Private Harbour Investment Management & Counsel LLC now owns 10,424 shares of the medical equipment provider’s stock valued at $850,000 after buying an additional 40 shares in the last quarter. Van ECK Associates Corp raised its stake in STERIS PLC by 0.4% in the first quarter. Van ECK Associates Corp now owns 10,770 shares of the medical equipment provider’s stock valued at $748,000 after buying an additional 45 shares in the last quarter. CENTRAL TRUST Co raised its stake in STERIS PLC by 1.3% in the first quarter. CENTRAL TRUST Co now owns 3,670 shares of the medical equipment provider’s stock valued at $255,000 after buying an additional 47 shares in the last quarter. Sawtooth Solutions LLC raised its stake in STERIS PLC by 1.3% in the second quarter. Sawtooth Solutions LLC now owns 4,232 shares of the medical equipment provider’s stock valued at $345,000 after buying an additional 54 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in STERIS PLC by 1.3% in the first quarter. Raymond James Trust N.A. now owns 5,473 shares of the medical equipment provider’s stock valued at $380,000 after buying an additional 71 shares in the last quarter. 91.80% of the stock is owned by institutional investors and hedge funds.
STERIS PLC Company Profile
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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