Steris PLC (NYSE:STE) Expected to Post Quarterly Sales of $715.87 Million
Wall Street analysts expect Steris PLC (NYSE:STE) to report $715.87 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Steris’ earnings, with the lowest sales estimate coming in at $709.80 million and the highest estimate coming in at $720.40 million. Steris posted sales of $678.96 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, 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 financial year, analysts anticipate that the company will post sales of $3.12 billion, with estimates ranging from $3.11 billion to $3.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Steris.
Steris (NYSE:STE) last posted its earnings results on Monday, August 5th. The medical equipment provider reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. The firm had revenue of $696.80 million during the quarter, compared to the consensus estimate of $674.12 million. Steris had a net margin of 11.22% and a return on equity of 13.80%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS.
STE traded up $1.17 on Tuesday, reaching $145.50. 21,404 shares of the company’s stock were exchanged, compared to its average volume of 507,490. The company’s 50 day moving average is $150.77 and its 200-day moving average is $138.26. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 29.75 and a beta of 0.94. Steris has a twelve month low of $99.14 and a twelve month high of $156.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.87 and a current ratio of 2.41.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Steris’s previous quarterly dividend of $0.34. Steris’s dividend payout ratio is currently 30.27%.
In other Steris news, VP Cary L. Majors sold 5,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $152.67, for a total value of $801,517.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Renato Tamaro sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $153.15, for a total value of $316,254.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,175 shares of company stock valued at $22,688,470. 2.36% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ropes Wealth Advisors LLC purchased a new position in shares of Steris during the 2nd quarter valued at approximately $26,000. Evolution Wealth Advisors LLC purchased a new position in shares of Steris during the 2nd quarter valued at approximately $27,000. Krane Funds Advisors LLC purchased a new position in shares of Steris during the 2nd quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Steris during the 2nd quarter valued at approximately $33,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Steris by 114.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 253 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.
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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