Stoneridge (NYSE:SRI) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Stoneridge (NYSE:SRI) announced its quarterly earnings data on Wednesday. The auto parts company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.19, Briefing.com reports. The company had revenue of $237.10 million for the quarter, compared to analyst estimates of $242.90 million. Stoneridge had a positive return on equity of 0.84% and a negative net margin of 0.41%. Stoneridge’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) EPS. Stoneridge updated its FY 2024 guidance to 0.180-0.280 EPS and its FY24 guidance to $0.18-0.28 EPS.

Stoneridge Price Performance

SRI traded up $0.44 during trading on Thursday, hitting $17.25. The company’s stock had a trading volume of 95,320 shares, compared to its average volume of 126,136. The firm’s 50 day moving average price is $15.88 and its two-hundred day moving average price is $16.67. The company has a quick ratio of 1.40, a current ratio of 2.39 and a debt-to-equity ratio of 0.70. Stoneridge has a 12 month low of $13.95 and a 12 month high of $24.51. The stock has a market capitalization of $477.31 million, a price-to-earnings ratio of -120.06 and a beta of 1.33.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Stephens assumed coverage on Stoneridge in a research note on Monday, July 8th. They issued an “overweight” rating on the stock. StockNews.com lowered Stoneridge from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th.

Insider Buying and Selling at Stoneridge

In other news, CEO James Zizelman bought 6,500 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average price of $15.72 per share, for a total transaction of $102,180.00. Following the completion of the transaction, the chief executive officer now directly owns 6,500 shares in the company, valued at approximately $102,180. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.