Sotera Health (NASDAQ:SHC) Issues FY 2024 Earnings Guidance

Sotera Health (NASDAQ:SHC) updated its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.670-0.750 for the period, compared to the consensus EPS estimate of 0.720. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Sotera Health also updated its FY24 guidance to $0.67-0.75 EPS.

Sotera Health Trading Up 2.5 %

SHC stock traded up $0.39 during midday trading on Wednesday, hitting $15.81. The stock had a trading volume of 884,591 shares, compared to its average volume of 1,304,161. Sotera Health has a 1-year low of $10.71 and a 1-year high of $17.44. The company has a current ratio of 2.93, a quick ratio of 2.59 and a debt-to-equity ratio of 5.46. The business has a fifty day moving average price of $15.94 and a two-hundred day moving average price of $13.67. The firm has a market cap of $4.48 billion, a P/E ratio of 112.93 and a beta of 2.08.

Sotera Health (NASDAQ:SHC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Sotera Health had a net margin of 3.65% and a return on equity of 47.26%. The company had revenue of $285.47 million for the quarter, compared to analyst estimates of $278.64 million. During the same quarter in the prior year, the company posted $0.18 EPS. Sotera Health’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Sotera Health will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHC. Citigroup boosted their target price on shares of Sotera Health from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Sotera Health in a research report on Tuesday, August 6th. Finally, Barclays boosted 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Sotera Health presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Buying and Selling at Sotera Health

In related news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 49,215,301 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 55.12% of the stock is currently owned by corporate insiders.

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.