Stevanato Group (NYSE:STVN) Issues FY 2024 Earnings Guidance

Stevanato Group (NYSE:STVN) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.550-0.600 for the period, compared to the consensus EPS estimate of 0.670. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Stevanato Group also updated its FY24 guidance to EUR0.51-0.55 EPS.

Stevanato Group Stock Performance

Stevanato Group stock traded down €6.52 ($7.01) during midday trading on Thursday, hitting €20.39 ($21.92). The stock had a trading volume of 717,184 shares, compared to its average volume of 341,399. The company has a market capitalization of $6.03 billion, a PE ratio of 36.05, a P/E/G ratio of 2.92 and a beta of 0.76. Stevanato Group has a 52-week low of €20.30 ($21.83) and a 52-week high of €36.30 ($39.03). The firm’s fifty day moving average is €29.36 and its two-hundred day moving average is €29.04. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23.

Stevanato Group (NYSE:STVN) last issued its earnings results on Thursday, March 7th. The company reported €0.18 ($0.19) earnings per share for the quarter, missing the consensus estimate of €0.19 ($0.20) by (€0.01) (($0.01)). The firm had revenue of €320.60 million during the quarter, compared to the consensus estimate of €326.85 million. Stevanato Group had a return on equity of 14.31% and a net margin of 13.43%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 EPS. On average, research analysts forecast that Stevanato Group will post 0.67 EPS for the current year.

Analysts Set New Price Targets

STVN has been the topic of several recent analyst reports. BNP Paribas initiated coverage on shares of Stevanato Group in a research report on Monday, April 22nd. They set an outperform rating on the stock. Morgan Stanley reissued an equal weight rating and set a $30.00 price objective on shares of Stevanato Group in a report on Monday, April 22nd. Finally, Stephens reaffirmed an overweight rating and issued a $38.00 target price on shares of Stevanato Group in a report on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Stevanato Group currently has an average rating of Moderate Buy and an average price target of €34.29 ($36.87).

About Stevanato Group

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for bio-pharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering.