Stoneridge, Inc. (SRI) Expected to Post Earnings of $0.31 Per Share
Wall Street analysts expect Stoneridge, Inc. (NYSE:SRI) to announce earnings per share (EPS) of $0.31 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Stoneridge’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.32. Stoneridge posted earnings of $0.36 per share during the same quarter last year, which would suggest a negative year over year growth rate of 13.9%. The firm is expected to report its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Stoneridge will report full year earnings of $1.34 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.47. For the next fiscal year, analysts expect that the business will report earnings of $1.45 per share, with EPS estimates ranging from $1.39 to $1.57. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Stoneridge.
Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $209.10 million during the quarter, compared to analyst estimates of $202.45 million. Stoneridge had a net margin of 10.12% and a return on equity of 22.52%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS.
A number of equities analysts recently commented on SRI shares. B. Riley restated a “buy” rating and set a $22.00 target price on shares of Stoneridge in a report on Saturday, May 13th. ValuEngine upgraded Stoneridge from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded Stoneridge from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, August 2nd. Finally, BidaskClub downgraded Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.67.
In other Stoneridge news, VP Michael D. Sloan sold 30,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $16.30, for a total value of $489,000.00. Following the completion of the transaction, the vice president now owns 34,223 shares in the company, valued at $557,834.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SRI. Royce & Associates LP increased its position in Stoneridge by 343.7% in the second quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock worth $19,043,000 after buying an additional 957,237 shares during the period. Opus Capital Group LLC purchased a new position in Stoneridge during the first quarter worth about $6,476,000. Norges Bank purchased a new position in Stoneridge during the fourth quarter worth about $5,109,000. Renaissance Technologies LLC increased its position in Stoneridge by 33.4% in the second quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock worth $12,877,000 after buying an additional 209,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Stoneridge by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock worth $27,063,000 after buying an additional 207,761 shares during the period. Institutional investors and hedge funds own 89.37% of the company’s stock.
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Stoneridge (NYSE:SRI) opened at 16.19 on Monday. Stoneridge has a one year low of $13.42 and a one year high of $20.82. The company has a 50-day moving average of $15.84 and a 200-day moving average of $16.85. The company has a market cap of $456.06 million, a price-to-earnings ratio of 5.99 and a beta of 1.33.
Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.
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