Sotera Health (NASDAQ:SHC) Releases FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.67-0.75 for the period, compared to the consensus estimate of $0.72. The company issued revenue guidance of $1.09-1.11 billion, compared to the consensus revenue estimate of $1.11 billion. Sotera Health also updated its FY 2024 guidance to 0.670-0.750 EPS.

Sotera Health Stock Down 3.6 %

NASDAQ:SHC traded down $0.57 during trading hours on Tuesday, hitting $15.23. 1,206,447 shares of the company’s stock traded hands, compared to its average volume of 1,303,903. The stock’s fifty day moving average price is $15.95 and its two-hundred day moving average price is $13.64. 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 market cap of $4.31 billion, a P/E ratio of 105.50 and a beta of 2.08. Sotera Health has a twelve month low of $10.71 and a twelve month high of $17.44.

Sotera Health (NASDAQ:SHC) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $277.00 million for the quarter, compared to the consensus estimate of $266.45 million. Sotera Health had a return on equity of 47.26% and a net margin of 3.65%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $0.19 EPS. On average, research analysts expect that Sotera Health will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SHC shares. Barclays upped their target price on shares of Sotera Health from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Sotera Health in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

Insider Activity

In other news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of the company’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 owns 49,215,301 shares of the company’s stock, valued at approximately $739,705,974.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 55.12% of the stock is owned by company insiders.

Sotera Health Company Profile

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.