Northcoast Research Weighs in on Steris Corp.’s Q1 2018 Earnings (STE)
Steris Corp. (NYSE:STE) – Investment analysts at Northcoast Research lowered their Q1 2018 earnings estimates for Steris Corp. in a research note issued on Wednesday. Northcoast Research analyst D. Keiser now anticipates that the brokerage will post earnings per share of $0.94 for the quarter, down from their prior estimate of $0.95. Northcoast Research has a “Buy” rating on the stock.
Steris Corp. (NYSE:STE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.02. The company earned $638.40 million during the quarter, compared to the consensus estimate of $639.04 million. Steris Corp. had a return on equity of 10.72% and a net margin of 5.52%. Steris Corp.’s revenue for the quarter was up 45.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS.
Separately, Zacks Investment Research lowered Steris Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd.
Shares of Steris Corp. (NYSE:STE) traded up 0.65% during mid-day trading on Friday, reaching $73.10. The company’s stock had a trading volume of 622,047 shares. The firm has a 50-day moving average of $71.34 and a 200-day moving average of $70.24. The firm has a market capitalization of $6.30 billion, a PE ratio of 41.99 and a beta of 1.16. Steris Corp. has a 52 week low of $61.38 and a 52 week high of $78.77.
Hedge funds have recently made changes to their positions in the stock. Janus Capital Management LLC increased its stake in shares of Steris Corp. by 28.7% in the second quarter. Janus Capital Management LLC now owns 5,022,412 shares of the company’s stock valued at $345,288,000 after buying an additional 1,120,438 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Steris Corp. by 870.8% in the second quarter. American Century Companies Inc. now owns 1,208,491 shares of the company’s stock valued at $83,084,000 after buying an additional 1,084,007 shares in the last quarter. Villere ST Denis J & Co. LLC bought a new stake in shares of Steris Corp. during the second quarter valued at about $46,505,000. Credit Suisse AG increased its stake in shares of Steris Corp. by 251.4% in the second quarter. Credit Suisse AG now owns 631,374 shares of the company’s stock valued at $43,408,000 after buying an additional 451,699 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Steris Corp. by 92.6% in the second quarter. Champlain Investment Partners LLC now owns 898,485 shares of the company’s stock valued at $61,771,000 after buying an additional 431,945 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.
In related news, insider Adrian Vincent Coward sold 15,000 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sudhir K. Pahwa sold 1,028 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $70.13, for a total value of $72,093.64. The disclosure for this sale can be found here. 2.52% of the stock is owned by corporate insiders.
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 $0.28 dividend. This is a positive change from Steris Corp.’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Friday, August 26th. Steris Corp.’s dividend payout ratio (DPR) is 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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