Stoneridge, Inc. (NYSE:SRI) Expected to Announce Earnings of $0.37 Per Share

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Analysts expect Stoneridge, Inc. (NYSE:SRI) to announce earnings of $0.37 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Stoneridge’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.40. Stoneridge posted earnings of $0.47 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.3%. The business is scheduled to report its next earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Stoneridge will report full year earnings of $1.55 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.60. For the next financial year, analysts forecast that the firm will report earnings of $1.75 per share, with EPS estimates ranging from $1.54 to $1.95. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Stoneridge.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, October 30th. The auto parts company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $203.39 million during the quarter, compared to analysts’ expectations of $203.21 million. Stoneridge had a net margin of 7.97% and a return on equity of 16.59%. Stoneridge’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS.

A number of analysts recently issued reports on SRI shares. B. Riley set a $33.00 price target on shares of Stoneridge and gave the stock a “hold” rating in a report on Friday, November 1st. ValuEngine lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Zacks Investment Research cut Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Stoneridge currently has a consensus rating of “Hold” and an average target price of $33.80.

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Stoneridge by 8,017.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,181,223 shares of the auto parts company’s stock valued at $37,268,000 after acquiring an additional 1,166,672 shares during the period. Bank of New York Mellon Corp grew its position in shares of Stoneridge by 264.3% in the second quarter. Bank of New York Mellon Corp now owns 778,415 shares of the auto parts company’s stock valued at $24,559,000 after purchasing an additional 564,715 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Stoneridge during the second quarter worth about $14,279,000. RK Capital Management LLC purchased a new stake in shares of Stoneridge during the second quarter worth about $4,733,000. Finally, Pembroke Management LTD increased its stake in shares of Stoneridge by 8.5% during the second quarter. Pembroke Management LTD now owns 895,050 shares of the auto parts company’s stock worth $28,239,000 after purchasing an additional 69,760 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

SRI stock traded up $0.47 during trading on Thursday, hitting $30.47. 157,826 shares of the company traded hands, compared to its average volume of 222,632. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.06 and a quick ratio of 1.42. Stoneridge has a 1 year low of $21.91 and a 1 year high of $34.46. The stock’s 50-day simple moving average is $30.94 and its 200 day simple moving average is $30.60. The company has a market cap of $825.27 million, a PE ratio of 15.31, a P/E/G ratio of 2.16 and a beta of 1.30.

Stoneridge Company Profile

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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Earnings History and Estimates for Stoneridge (NYSE:SRI)

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