Q2 2024 Earnings Forecast for Stericycle, Inc. (NASDAQ:SRCL) Issued By Barrington Research

Stericycle, Inc. (NASDAQ:SRCL) – Analysts at Barrington Research raised their Q2 2024 EPS estimates for shares of Stericycle in a research note issued to investors on Tuesday, April 30th. Barrington Research analyst K. Steinke now anticipates that the business services provider will earn $0.57 per share for the quarter, up from their prior forecast of $0.55. The consensus estimate for Stericycle’s current full-year earnings is $2.31 per share. Barrington Research also issued estimates for Stericycle’s Q3 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.62 EPS and FY2025 earnings at $2.75 EPS.

Several other brokerages have also recently issued reports on SRCL. Stifel Nicolaus upped their price objective on Stericycle from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Truist Financial reduced their price objective on Stericycle from $57.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Stericycle in a research note on Thursday, March 7th. Wells Fargo & Company raised their price target on shares of Stericycle from $40.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Finally, StockNews.com downgraded shares of Stericycle from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Stericycle currently has a consensus rating of “Hold” and an average price target of $59.40.

Stericycle Stock Performance

Shares of Stericycle stock opened at $46.18 on Thursday. The firm has a market cap of $4.29 billion, a PE ratio of -209.91, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. Stericycle has a 1 year low of $37.78 and a 1 year high of $57.06. The firm’s 50-day simple moving average is $50.99 and its 200-day simple moving average is $48.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.11 and a current ratio of 1.11.

Stericycle (NASDAQ:SRCL) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $664.90 million for the quarter, compared to analysts’ expectations of $676.42 million. Stericycle had a negative net margin of 0.74% and a positive return on equity of 7.31%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share.

Institutional Investors Weigh In On Stericycle

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in Stericycle by 30.6% in the 3rd quarter. Barclays PLC now owns 70,408 shares of the business services provider’s stock valued at $3,147,000 after purchasing an additional 16,505 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Stericycle by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,078 shares of the business services provider’s stock valued at $808,000 after buying an additional 2,671 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Stericycle by 6.6% during the third quarter. Earnest Partners LLC now owns 1,941,254 shares of the business services provider’s stock worth $86,793,000 after buying an additional 120,852 shares during the period. Pathstone Family Office LLC bought a new position in Stericycle in the 3rd quarter worth approximately $230,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Stericycle by 25.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,860 shares of the business services provider’s stock valued at $3,034,000 after purchasing an additional 13,860 shares in the last quarter. 98.82% of the stock is currently owned by institutional investors.

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.