STERIS plc (NYSE:STE) Shares to Pay Quarterly Dividend of $0.69

STERIS plc (NYSE:STE) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.69 per share by the medical equipment provider on Thursday, December 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 17th.

STERIS has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 20 years. STERIS has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect STERIS to earn $12.40 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 22.3%.

STERIS Stock Down 0.0%

Shares of STERIS stock opened at $228.46 on Thursday. The business’s 50 day simple moving average is $220.07 and its 200 day simple moving average is $225.49. STERIS has a 52-week low of $195.14 and a 52-week high of $269.44. The firm has a market cap of $22.27 billion, a PE ratio of 27.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91.

STERIS (NYSE:STE) last released its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.49 by $0.10. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business posted $2.34 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, analysts predict that STERIS will post 11.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STE. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a report on Monday, August 24th. UBS Group reduced their target price on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 7th. Wall Street Zen downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.33.

About STERIS

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.