Stericycle, Inc. (SRCL) Shares Gap Down Following Weak Earnings

Stericycle, Inc. (NASDAQ:SRCL) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $65.82, but opened at $64.06. Stericycle shares last traded at $64.06, with a volume of 4633605 shares traded.

The business services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Stericycle had a negative net margin of 0.79% and a positive return on equity of 13.92%. The business had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $896.81 million. During the same quarter last year, the business posted $1.24 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Zacks Investment Research cut Stericycle from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub lowered Stericycle from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Barclays PLC reissued an “overweight” rating and issued a $100.00 price objective on shares of Stericycle in a report on Wednesday, August 9th. Jefferies Group LLC set a $108.00 price objective on Stericycle and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, William Blair reissued an “ourperform” rating on shares of Stericycle in a report on Thursday, September 14th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $77.17.

In other Stericycle news, Director Mark C. Miller sold 19,753 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $70.52, for a total value of $1,392,981.56. Following the sale, the director now directly owns 205,576 shares of the company’s stock, valued at $14,497,219.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SRCL. Schroder Investment Management Group acquired a new stake in Stericycle in the second quarter valued at approximately $80,497,000. Thompson Siegel & Walmsley LLC acquired a new stake in Stericycle in the second quarter valued at approximately $33,710,000. Strs Ohio grew its holdings in Stericycle by 26,943.3% in the second quarter. Strs Ohio now owns 328,306 shares of the business services provider’s stock valued at $25,056,000 after purchasing an additional 327,092 shares during the period. BlackRock Inc. grew its holdings in Stericycle by 6.4% in the second quarter. BlackRock Inc. now owns 5,413,244 shares of the business services provider’s stock valued at $413,139,000 after purchasing an additional 323,664 shares during the period. Finally, Clarkston Capital Partners LLC grew its holdings in Stericycle by 43.1% in the third quarter. Clarkston Capital Partners LLC now owns 1,013,885 shares of the business services provider’s stock valued at $72,614,000 after purchasing an additional 305,441 shares during the period. 94.13% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $5,470.00, a price-to-earnings ratio of 15.46, a P/E/G ratio of 1.80 and a beta of 0.19.

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Stericycle Company Profile

Stericycle, Inc is a business-to-business services provider. The Company focuses on regulated and compliance solutions for healthcare, retail, and commercial businesses. The Company’s segments include Domestic and Canada Regulated Waste and Compliance Services (RCS), Domestic Communication and Related Services (CRS), International RCS and All other.

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