Stericycle Analysts Increase Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Stericycle, Inc. (NASDAQ:SRCL) reported Q4 earnings of 54 cents per share, surpassing estimates of 47 cents, but missed revenue expectations with $652.00 million against the forecasted $657.93 million. The company's income from operations decreased to $37.1 million from $59.1 million year-over-year. Despite facing headwinds, Stericycle made significant progress in its business priorities, including ERP deployment and completing eight divestitures. Following the report, Stericycle's shares dropped by 2.5% to $54.28. Analysts from Truist Securities, Stifel, and RBC Capital adjusted their price targets on Stericycle, reflecting a mixed but generally positive outlook.
February 29, 2024 | 6:19 pm
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Stericycle reported higher-than-expected Q4 earnings but missed revenue forecasts, leading to a 2.5% drop in share price. Analysts have adjusted their price targets, indicating a positive outlook.
Stericycle's mixed Q4 results, with earnings surpassing expectations but revenues missing forecasts, led to a short-term negative reaction in its stock price. However, the adjustments in price targets by analysts from Truist Securities, Stifel, and RBC Capital suggest a positive outlook on the company's future performance. This mixed reaction indicates a neutral short-term impact on the stock, as the positive adjustments by analysts could counterbalance the initial negative price movement.
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