Steris Corp. (STE) beat fiscal third-quarter EPS estimates by 46.8%.
This Zacks Rank #2 stock has a dividend yield of 1.2% and an expected long-term EPS growth rate of 10.0%.
Company Description
Steris Corporation is a leading provider of infection prevention, contamination control, and surgical support systems to healthcare, pharmaceutical, scientific, research, industrial, and governmental customers worldwide.
Recent Results
In February, Steris announced fiscal third-quarter revenues of $327.8 million, an increase of 2.6% from the year-ago period. The company reported earnings of $0.69 per share, easily beating the Zacks Consensus Estimate of $0.47.
Steris has beaten the Zacks Consensus Estimate by an average of 29.9% in the 5 quarters.
EPS Estimates Moving Higher
In the last 30 days, the Zacks Consensus Estimate for 2010 is up 9 cents, or 4.3%, to $2.18, and consensus estimates for 2011 are up 8 cents, or 3.8%, to $2.20.
In the last 7 days, there have 5 upward revisions to the company’s earnings estimates.
Steris will report fourth-quarter results on May 6.
The Chart
STE shares sold-off 27% from late November to early February. But, the shares have rebounded nicely in the last two months to reach new highs for the year thanks to a strong earnings report and FDA approval of its new Steris System 1E Liquid Chemical Sterilant Processing System.
