Equities Analysts Set Expectations for Steris Corp.’s Q3 2017 Earnings (STE)
Steris Corp. (NYSE:STE) – Investment analysts at KeyCorp lowered their Q3 2017 earnings per share estimates for shares of Steris Corp. in a research report issued to clients and investors on Monday. KeyCorp analyst M. Mishan now expects that the brokerage will post earnings of $1.02 per share for the quarter, down from their prior 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.
Separately, Zacks Investment Research downgraded Steris Corp. from a “buy” rating to a “sell” rating in a report on Tuesday, July 19th.
Shares of Steris Corp. (NYSE:STE) opened at 72.18 on Wednesday. Steris Corp. has a 52 week low of $61.38 and a 52 week high of $78.77. The firm’s 50-day moving average price is $71.39 and its 200 day moving average price is $70.37. The company has a market cap of $6.22 billion, a P/E ratio of 41.46 and a beta of 1.14.
Steris Corp. (NYSE:STE) last announced its earnings results on Tuesday, August 9th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $638.40 million for 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%. The firm’s revenue for the quarter was up 45.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 27th. Shareholders of record on Tuesday, August 30th were given a dividend of $0.28 per share. This is a boost from Steris Corp.’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, August 26th. This represents a $1.12 annualized dividend and a dividend yield of 1.55%. Steris Corp.’s payout ratio is presently 68.71%.
In other Steris Corp. news, CEO Walter M. Rosebrough, Jr. sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $71.08, for a total transaction of $1,066,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel A. Carestio sold 2,681 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $71.04, for a total transaction of $190,458.24. The disclosure for this sale can be found here. Company insiders own 2.52% of the company’s stock.
Several hedge funds have recently modified their holdings of STE. Welch Capital Partners LLC NY acquired a new stake in shares of Steris Corp. during the first quarter valued at approximately $12,295,000. Palisade Capital Management LLC NJ acquired a new stake in shares of Steris Corp. during the first quarter valued at approximately $1,839,000. Champlain Investment Partners LLC boosted its stake in shares of Steris Corp. by 1.1% in the first quarter. Champlain Investment Partners LLC now owns 466,540 shares of the company’s stock valued at $33,148,000 after buying an additional 5,250 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Steris Corp. by 43.9% in the first quarter. JPMorgan Chase & Co. now owns 616,502 shares of the company’s stock valued at $43,802,000 after buying an additional 187,935 shares during the last quarter. Finally, Columbia Partners L L C Investment Management acquired a new stake in shares of Steris Corp. during the first quarter valued at approximately $1,593,000. Institutional investors own 91.58% of the company’s stock.
Steris Corp. Company Profile
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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