Steris PLC (NYSE:STE) Expected to Post Quarterly Sales of $715.87 Million
Equities analysts forecast that Steris PLC (NYSE:STE) will report $715.87 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Steris’ earnings. The highest sales estimate is $720.40 million and the lowest is $709.80 million. Steris reported sales of $678.96 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that Steris will report full year sales of $2.95 billion for the current year, with estimates ranging from $2.95 billion to $2.96 billion. For the next year, analysts forecast that the firm will report sales of $3.12 billion, with estimates ranging from $3.11 billion to $3.13 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Steris.
Steris (NYSE:STE) last issued its quarterly earnings results on Monday, August 5th. The medical equipment provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.12. Steris had a return on equity of 13.80% and a net margin of 11.22%. The business had revenue of $696.80 million for the quarter, compared to the consensus estimate of $674.12 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. Steris’s revenue for the quarter was up 9.1% compared to the same quarter last year.
In other Steris news, VP Cary L. Majors sold 5,250 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $152.67, for a total transaction of $801,517.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Renato Tamaro sold 2,065 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $153.15, for a total transaction of $316,254.75. The disclosure for this sale can be found here. Insiders have sold 354,218 shares of company stock valued at $49,938,368 in the last quarter. 2.36% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in STE. Ropes Wealth Advisors LLC acquired a new stake in shares of Steris during the second quarter valued at $26,000. Evolution Wealth Advisors LLC purchased a new stake in shares of Steris during the 2nd quarter valued at about $27,000. Krane Funds Advisors LLC purchased a new stake in shares of Steris during the 2nd quarter valued at about $27,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Steris during the 2nd quarter valued at about $33,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Steris by 114.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 253 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.
Shares of NYSE:STE traded down $0.97 on Monday, reaching $150.19. The company had a trading volume of 3,749 shares, compared to its average volume of 392,000. Steris has a twelve month low of $99.14 and a twelve month high of $156.12. The stock has a 50-day moving average price of $150.44 and a 200 day moving average price of $134.52. The stock has a market capitalization of $12.83 billion, a P/E ratio of 30.74 and a beta of 0.98. The company has a quick ratio of 1.87, a current ratio of 2.41 and a debt-to-equity ratio of 0.40.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th will be issued a $0.37 dividend. This is a boost from Steris’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, September 9th. This represents a $1.48 annualized dividend and a dividend yield of 0.99%. Steris’s dividend payout ratio (DPR) is presently 27.81%.
STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
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