Sotera Health (NASDAQ:SHC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Sotera Health (NASDAQ:SHC) issued its quarterly earnings results on Tuesday. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01), Briefing.com reports. Sotera Health had a return on equity of 47.26% and a net margin of 3.65%. The company had revenue of $285.47 million during the quarter, compared to the consensus estimate of $278.64 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sotera Health updated its FY 2024 guidance to 0.670-0.750 EPS and its FY24 guidance to $0.67-0.75 EPS.

Sotera Health Stock Performance

Shares of NASDAQ SHC traded up $0.47 during midday trading on Wednesday, hitting $15.89. 929,339 shares of the stock traded hands, compared to its average volume of 1,304,662. The firm has a market capitalization of $4.50 billion, a P/E ratio of 112.93 and a beta of 2.08. Sotera Health has a one year low of $10.71 and a one year high of $17.44. The company has a debt-to-equity ratio of 5.46, a quick ratio of 2.59 and a current ratio of 2.93. The firm has a 50-day moving average of $15.94 and a two-hundred day moving average of $13.67.

Insider Buying and Selling

In related news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.03, for a total transaction of $150,300,000.00. Following the completion of the sale, the director now directly owns 49,215,301 shares in the company, valued at approximately $739,705,974.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 55.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHC. Barclays raised their price objective on shares of Sotera Health from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Citigroup boosted their price objective on shares of Sotera Health from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Sotera Health in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.50.

About Sotera Health

Sotera Health Company engages in the provision of sterilization, lab testing, and advisory services in the United States and internationally. The company operates through three segments: Sterigenics, Nordion, and Nelson Labs. It provides mission-critical end-to-end sterilization services, including gamma and electron beam irradiation, and ethylene oxide processing, as well as designs, installs, and maintains gamma irradiation systems.