Sotera Health (NASDAQ:SHC) Issues FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.67-0.75 for the period, compared to the consensus earnings per share 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 Trading Down 2.4 %

Shares of NASDAQ:SHC traded down $0.38 during midday trading on Tuesday, reaching $15.42. The company's stock had a trading volume of 1,744,281 shares, compared to its average volume of 1,306,416. Sotera Health has a fifty-two week low of $10.71 and a fifty-two week 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 price of $15.95 and a two-hundred day moving average price of $13.64. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 105.50 and a beta of 2.08.

Sotera Health (NASDAQ:SHC - Get Free Report) last issued its earnings results on Monday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. Sotera Health had a net margin of 3.65% and a return on equity of 47.26%. The business had revenue of $277.00 million for the quarter, compared to analyst estimates of $266.45 million. During the same period in the prior year, the firm earned $0.19 earnings per share. Sotera Health's revenue was up 8.6% on a year-over-year basis. As a group, analysts forecast that Sotera Health will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

SHC has been the topic of a number of analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $17.00 target price on shares of Sotera Health in a report on Tuesday, August 6th. Barclays raised their price objective on 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 stock. According to data from MarketBeat, Sotera Health has an average rating of "Moderate Buy" and an average target price of $15.70.

Insiders Place Their Bets

In related news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of Sotera Health stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.03, for a total value of $150,300,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 55.12% of the company's stock.

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.