Stericycle (NASDAQ:SRCL) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Stericycle (NASDAQ:SRCL) released its earnings results on Thursday. The business services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03, Briefing.com reports. The firm had revenue of $664.90 million during the quarter, compared to the consensus estimate of $676.42 million. Stericycle had a positive return on equity of 7.31% and a negative net margin of 0.74%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. Stericycle updated its FY 2024 guidance to 2.200-2.500 EPS.

Stericycle Trading Down 0.4 %

Shares of SRCL stock opened at $46.31 on Friday. The stock has a 50-day moving average of $51.35 and a 200-day moving average of $48.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.94. Stericycle has a 1-year low of $37.78 and a 1-year high of $57.06.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SRCL shares. Stifel Nicolaus upped their target price on Stericycle from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Robert W. Baird dropped their price objective on Stericycle from $62.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Stericycle in a research report on Thursday, March 7th. Wells Fargo & Company upped their price objective on Stericycle from $40.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Finally, Truist Financial upped their target price on Stericycle from $50.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.80.

Stericycle Company Profile

Stericycle, Inc, together with its subsidiaries, provides regulated waste and compliance services in the United States, Europe, and internationally. The company offers regulated waste and compliance services, including regulated medical waste, sharps waste management and disposal, pharmaceutical waste management and disposal, chemotherapy waste and disposal, controlled substance waste disposal, healthcare hazardous waste, and integrated waste stream solutions; specialty services, such as MedDrop medication collection kiosks, safe community solutions, SafeDrop sharps mailback solutions, and airport and maritime waste services; medical supply store services, that includes sharps and disposable biohazardous waste containers, infection control supplies, and seal&send medication mail back; and compliance solutions including Steri-Safe compliance solutions.