Stericycle (NASDAQ:SRCL) Issues Earnings Results, Beats Expectations By $0.03 EPS

Stericycle (NASDAQ:SRCL) issued its quarterly earnings results on Thursday. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03, Briefing.com reports. The firm had revenue of $664.90 million during the quarter, compared to analyst estimates of $676.42 million. Stericycle had a positive return on equity of 7.06% and a negative net margin of 0.80%. Stericycle’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Stericycle updated its FY 2024 guidance to 2.200-2.500 EPS.

Stericycle Stock Down 0.7 %

SRCL stock traded down $0.33 during trading on Friday, reaching $46.18. 398,635 shares of the company traded hands, compared to its average volume of 461,944. The business has a 50 day simple moving average of $51.42 and a 200 day simple moving average of $48.15. Stericycle has a 12 month low of $37.78 and a 12 month high of $57.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of -192.95, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Stericycle from $50.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Stericycle in a research note on Thursday, March 7th. Stifel Nicolaus boosted their price target on Stericycle from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Wells Fargo & Company raised their price objective on Stericycle from $40.00 to $48.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. Finally, Robert W. Baird lowered their target price on Stericycle from $62.00 to $55.00 and set a “neutral” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.80.

Stericycle Company Profile

Stericycle, Inc, together with its subsidiaries, provides regulated waste and compliance services in the United States, Europe, and internationally. The company offers regulated waste and compliance services, including regulated medical waste, sharps waste management and disposal, pharmaceutical waste management and disposal, chemotherapy waste and disposal, controlled substance waste disposal, healthcare hazardous waste, and integrated waste stream solutions; specialty services, such as MedDrop medication collection kiosks, safe community solutions, SafeDrop sharps mailback solutions, and airport and maritime waste services; medical supply store services, that includes sharps and disposable biohazardous waste containers, infection control supplies, and seal&send medication mail back; and compliance solutions including Steri-Safe compliance solutions.