Stericycle (NASDAQ:SRCL) Issues Quarterly Earnings Results

Stericycle (NASDAQ:SRCL) posted its quarterly earnings results on Thursday. The business services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03, Briefing.com reports. The business had revenue of $664.90 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Stericycle updated its FY 2024 guidance to 2.200-2.500 EPS.

Stericycle Stock Performance

Shares of NASDAQ SRCL opened at $46.31 on Friday. Stericycle has a 1 year low of $37.78 and a 1 year high of $57.06. The company has a current ratio of 1.11, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average is $51.35 and its 200 day moving average is $48.20.

Analysts Set New Price Targets

Several research firms have weighed in on SRCL. Stifel Nicolaus boosted their price target on shares of Stericycle from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their price objective on shares of Stericycle from $40.00 to $48.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Robert W. Baird lowered their price objective on shares of Stericycle from $62.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial upped their price objective on shares of Stericycle from $50.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Stericycle in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.