Sotera Health (NASDAQ:SHC) Issues FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC) updated its FY24 earnings guidance on Tuesday. 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.

Analysts Set New Price Targets

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

Sotera Health Stock Performance

Shares of SHC traded down $0.57 during trading hours on Tuesday, hitting $15.23. The stock had a trading volume of 1,206,447 shares, compared to its average volume of 1,303,903. The company has a debt-to-equity ratio of 5.46, a current ratio of 2.93 and a quick ratio of 2.59. The firm has a market capitalization of $4.31 billion, a PE ratio of 105.50 and a beta of 2.08. Sotera Health has a 12 month low of $10.71 and a 12 month high of $17.44. The stock has a fifty day moving average price of $15.95 and a 200 day moving average price of $13.64.

Sotera Health (NASDAQ:SHC) last released its quarterly earnings data on Monday, August 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. Sotera Health had a return on equity of 47.26% and a net margin of 3.65%. The firm had revenue of $277.00 million during the quarter, compared to the consensus estimate of $266.45 million. During the same period in the previous year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts anticipate that Sotera Health will post 0.64 EPS for the current year.

Insider Activity

In other Sotera Health 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 sale, the director now directly owns 49,215,301 shares in the company, valued at $739,705,974.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.