Northcoast Research Equities Analysts Reduce Earnings Estimates for Steris Plc (STE)
Steris Plc (NYSE:STE) – Northcoast Research dropped their Q2 2018 earnings per share (EPS) estimates for Steris Plc in a research report issued to clients and investors on Friday. Northcoast Research analyst D. Keiser now expects that the medical equipment provider will post earnings per share of $0.94 for the quarter, down from their previous estimate of $0.95. Northcoast Research also issued estimates for Steris Plc’s FY2018 earnings at $4.10 EPS and FY2019 earnings at $4.53 EPS.
Several other equities research analysts have also recently issued reports on STE. Zacks Investment Research upgraded shares of Steris Plc from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub cut shares of Steris Plc from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. lifted their price objective on shares of Steris Plc from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $89.00.
Shares of Steris Plc (NYSE:STE) remained flat at $89.90 during mid-day trading on Monday. 89,210 shares of the company were exchanged. Steris Plc has a 52 week low of $63.80 and a 52 week high of $91.18. The firm has a 50-day moving average of $87.35 and a 200 day moving average of $80.45. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 63.76 and a beta of 1.29.
Steris Plc (NYSE:STE) last issued its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Steris Plc had a net margin of 4.63% and a return on equity of 11.39%. The firm had revenue of $608.00 million for the quarter, compared to analyst estimates of $597.66 million. During the same quarter last year, the business posted $0.79 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Tuesday, August 29th were given a dividend of $0.31 per share. The ex-dividend date was Friday, August 25th. This represents a $1.24 annualized dividend and a dividend yield of 1.38%. This is a boost from Steris Plc’s previous quarterly dividend of $0.28. Steris Plc’s dividend payout ratio (DPR) is presently 88.57%.
In other news, Director Richard Martin Steeves sold 156,072 shares of Steris Plc stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $87.13, for a total transaction of $13,598,553.36. Following the sale, the director now owns 9,362 shares in the company, valued at $815,711.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Karen L. Burton sold 3,270 shares of Steris Plc stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $85.70, for a total transaction of $280,239.00. Following the sale, the vice president now owns 11,807 shares in the company, valued at approximately $1,011,859.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,086 shares of company stock worth $16,953,621. Company insiders own 2.55% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. bought a new stake in Steris Plc in the second quarter worth $206,000. Van Cleef Asset Management Inc bought a new stake in Steris Plc in the second quarter worth $208,000. Cigna Investments Inc. New bought a new stake in Steris Plc in the second quarter worth $209,000. BT Investment Management Ltd bought a new stake in Steris Plc in the second quarter worth $210,000. Finally, Allegis Investment Advisors LLC bought a new stake in Steris Plc in the second quarter worth $251,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.
About Steris Plc
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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