Stevanato Group (NYSE:STVN) Releases FY24 Earnings Guidance

Stevanato Group (NYSE:STVN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of €0.47-0.49 for the period, compared to the consensus 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 Trading Up 16.1 %

Shares of STVN stock traded up €3.12 ($3.43) during trading hours on Tuesday, reaching €22.50 ($24.73). The company had a trading volume of 1,509,331 shares, compared to its average volume of 508,341. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.74 and a quick ratio of 1.13. Stevanato Group has a twelve month low of €16.56 ($18.20) and a twelve month high of €34.73 ($38.16). The stock’s fifty day simple moving average is €19.57 and its 200 day simple moving average is €20.33.

Stevanato Group (NYSE:STVN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported €0.09 ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of €0.10 ($0.11) by (€0.01) (($0.01)). The business had revenue of €259.60 million for the quarter, compared to analyst estimates of €254.92 million. Stevanato Group had a net margin of 11.27% and a return on equity of 10.89%. Stevanato Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. Equities analysts forecast that Stevanato Group will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup cut their price target on Stevanato Group from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley cut their target price on Stevanato Group from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th.

Stevanato Group Company Profile

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.