Stevanato Group (NYSE:STVN) Announces Earnings Results

Stevanato Group (NYSE:STVN) issued its quarterly earnings results on Tuesday. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)), Briefing.com reports. The firm had revenue of €277.90 million for the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a return on equity of 10.89% and a net margin of 11.27%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. Stevanato Group updated its FY 2024 guidance to 0.517-0.539 EPS and its FY24 guidance to €0.47-0.49 EPS.

Stevanato Group Trading Down 0.6 %

Shares of NYSE:STVN traded down €0.13 ($0.14) during trading on Thursday, reaching €22.42 ($24.64). 185,617 shares of the stock were exchanged, compared to its average volume of 509,819. Stevanato Group has a 12-month low of €16.56 ($18.20) and a 12-month high of €34.73 ($38.16). The company has a quick ratio of 1.13, a current ratio of 1.74 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is €19.66 and its 200 day moving average price is €20.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on STVN shares. Citigroup cut their price objective on Stevanato Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley dropped their target price on shares of Stevanato Group from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th.

Stevanato Group Company Profile

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for bio-pharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering.