Stericycle, Inc. (NASDAQ:SRCL) reported mixed fourth-quarter financial results on Wednesday.
Stericycle posted adjusted earnings of 54 cents per share, beating market estimates of 47 cents per share. The company’s quarterly sales came in at $652.00 million, missing expectations of $657.93 million, according to data from Benzinga Pro.
Income from operations fell to $37.1 million in the fourth quarter, from $59.1 million in the year-ago quarter.
“Throughout 2023, we made strong progress executing across all of our key business priorities, most notably the ERP deployment for our U.S. Regulated Waste and Compliance Services business and portfolio optimization, as we completed eight divestitures in the year. 2023 organic revenue and Adjusted EPS(3) performance came in line with our expectations. We continued to drive efficiency improvements in cost of revenues that helped mitigate headwinds of approximately $50 million in commodity indexed revenues in 2023,” said Cindy J. Miller, President and Chief Executive Officer.
Stericycle shares fell 2.5% to trade at $54.28 on Thursday.
These analysts made changes to their price targets on Stericycle after the company reported quarterly results.
- Truist Securities raised the price target on Stericycle from $50 to $57. Truist Securities analyst Tobey Sommer maintained a Hold rating.
- Stifel boosted the price target on Stericycle from $70 to $75. Stifel analyst Michael Hoffman maintained a Buy rating.
- RBC Capital raised the price target on Stericycle from $58 to $69. RBC Capital analyst Sean Dodge maintained an Outperform rating.
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