Stevanato Group (NYSE:STVN) Issues FY24 Earnings Guidance

Stevanato Group (NYSE:STVN) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of €0.47-0.49 for the period, compared to the consensus earnings per share estimate of $0.48. The company issued revenue guidance of €1.09-1.11 billion, compared to the consensus revenue estimate of $1.09 billion. Stevanato Group also updated its FY 2024 guidance to 0.517-0.539 EPS.

Stevanato Group Price Performance

STVN stock traded up €0.17 ($0.19) during trading on Thursday, hitting €22.72 ($24.97). 383,800 shares of the stock traded hands, compared to its average volume of 510,737. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.74. Stevanato Group has a 1 year low of €16.56 ($18.20) and a 1 year high of €34.73 ($38.16). The firm’s 50 day moving average is €19.66 and its two-hundred day moving average is €20.31.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). The firm had revenue of €277.90 million for the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a net margin of 11.27% and a return on equity of 10.89%. Stevanato Group’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. Analysts anticipate that Stevanato Group will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

STVN has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on Stevanato Group from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Citigroup lowered their price objective on shares of Stevanato Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

About Stevanato Group

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for bio-pharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering.