STERIS plc Announces Quarterly Dividend of $0.57 (NYSE:STE)

STERIS plc (NYSE:STE) announced a quarterly dividend on Wednesday, May 7th, RTT News reports. Investors of record on Tuesday, June 10th will be given a dividend of 0.57 per share by the medical equipment provider on Thursday, June 26th. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Tuesday, June 10th.

STERIS has increased its dividend payment by an average of 9.5% annually over the last three years and has increased its dividend every year for the last 20 years. STERIS has a dividend payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect STERIS to earn $9.93 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 23.0%.

STERIS Price Performance

Shares of NYSE:STE opened at $225.79 on Friday. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of 47.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The business’s 50 day simple moving average is $223.38 and its 200-day simple moving average is $218.84. STERIS has a 12 month low of $200.98 and a 12 month high of $248.24.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. As a group, equities analysts forecast that STERIS will post 9.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STE has been the subject of several recent research reports. Stephens upgraded shares of STERIS to a “strong-buy” rating in a report on Thursday, May 1st. Piper Sandler raised their price objective on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $258.75.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.