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

Sotera Health (NASDAQ:SHC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.670-0.750 for the period, compared to the consensus 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 Down 1.7 %

Shares of SHC traded down $0.28 during midday trading on Thursday, hitting $15.83. 1,349,204 shares of the stock were exchanged, compared to its average volume of 1,307,183. Sotera Health has a 52-week low of $10.71 and a 52-week high of $17.44. The stock has a fifty day simple moving average of $15.96 and a 200 day simple moving average of $13.69. The firm has a market cap of $4.48 billion, a P/E ratio of 63.40 and a beta of 2.08. The company has a debt-to-equity ratio of 5.46, a quick ratio of 2.59 and a current ratio of 2.93.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on SHC. Citigroup lifted their target price on Sotera Health from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their target price on Sotera Health from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Sotera Health in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Insiders Place Their Bets

In other news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of Sotera Health stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $15.03, for a total transaction of $150,300,000.00. Following the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 55.12% of the stock is owned by company 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.