Analysts Anticipate Steris PLC (STE) Will Announce Quarterly Sales of $687.90 Million

Wall Street brokerages forecast that Steris PLC (NYSE:STE) will announce sales of $687.90 million for the current quarter, Zacks reports. Three analysts have issued estimates for Steris’ earnings, with the highest sales estimate coming in at $694.30 million and the lowest estimate coming in at $680.80 million. Steris posted sales of $661.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The firm is expected to report its next earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that Steris will report full year sales of $2.75 billion for the current financial year, with estimates ranging from $2.74 billion to $2.76 billion. For the next fiscal year, analysts expect that the company will post sales of $2.89 billion, with estimates ranging from $2.87 billion to $2.90 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Steris.

Steris (NYSE:STE) last announced its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. Steris had a return on equity of 12.15% and a net margin of 11.72%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $659.14 million. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year.

A number of analysts have commented on STE shares. Zacks Investment Research raised Steris from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. KeyCorp lifted their target price on shares of Steris from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. JMP Securities lifted their target price on shares of Steris from $113.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 9th. Finally, Stephens reaffirmed a “buy” rating and set a $125.00 target price on shares of Steris in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Steris currently has an average rating of “Buy” and an average target price of $119.33.

In related news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $120.50, for a total value of $1,205,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael J. Tokich sold 34,500 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $119.16, for a total transaction of $4,111,020.00. Following the completion of the sale, the insider now directly owns 64,958 shares in the company, valued at $7,740,395.28. The disclosure for this sale can be found here. 2.38% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in STE. Crossmark Global Holdings Inc. grew its holdings in Steris by 5.6% during the second quarter. Crossmark Global Holdings Inc. now owns 9,190 shares of the medical equipment provider’s stock worth $965,000 after acquiring an additional 490 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Steris by 118.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 909 shares of the medical equipment provider’s stock valued at $104,000 after acquiring an additional 492 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Steris by 12.1% during the second quarter. Brookstone Capital Management now owns 5,077 shares of the medical equipment provider’s stock valued at $533,000 after buying an additional 549 shares during the last quarter. American International Group Inc. grew its stake in shares of Steris by 0.3% during the second quarter. American International Group Inc. now owns 170,289 shares of the medical equipment provider’s stock valued at $17,882,000 after buying an additional 572 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of Steris by 1.4% during the second quarter. First Republic Investment Management Inc. now owns 42,631 shares of the medical equipment provider’s stock valued at $4,477,000 after buying an additional 595 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Steris stock traded up $0.11 during midday trading on Friday, reaching $113.36. The stock had a trading volume of 111,046 shares, compared to its average volume of 429,807. Steris has a 12 month low of $82.88 and a 12 month high of $121.67. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 27.32 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.63 and a quick ratio of 2.01.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Wednesday, November 28th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, November 27th. This represents a $1.36 dividend on an annualized basis and a yield of 1.20%. Steris’s payout ratio is 32.77%.

Steris Company Profile

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.

Further Reading: Cost of Equity For A Business, Investors

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