Brokerages expect Stoneridge, Inc. (NYSE:SRI) to post sales of $203.42 million for the current quarter, according to Zacks. Two analysts have issued estimates for Stoneridge’s earnings, with the highest sales estimate coming in at $208.30 million and the lowest estimate coming in at $198.54 million. Stoneridge reported sales of $220.60 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.8%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.
On average, analysts expect that Stoneridge will report full-year sales of $842.55 million for the current year, with estimates ranging from $835.10 million to $850.00 million. For the next year, analysts expect that the firm will report sales of $873.64 million, with estimates ranging from $859.97 million to $887.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Stoneridge.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The company had revenue of $218.00 million for the quarter, compared to analyst estimates of $216.20 million. Stoneridge had a net margin of 5.84% and a return on equity of 20.46%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share.
SRI has been the subject of a number of research reports. Barrington Research reissued a “buy” rating and issued a $40.00 price target on shares of Stoneridge in a research note on Tuesday, April 2nd. Citigroup reissued an “average” rating on shares of Stoneridge in a research note on Tuesday, May 7th. Zacks Investment Research cut shares of Stoneridge from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. ValuEngine raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Finally, Stephens set a $34.00 price target on shares of Stoneridge and gave the stock a “buy” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Stoneridge has a consensus rating of “Buy” and an average target price of $35.33.
Stoneridge stock traded up $0.41 during midday trading on Wednesday, reaching $28.14. 155,400 shares of the stock were exchanged, compared to its average volume of 247,720. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $800.01 million, a PE ratio of 14.14 and a beta of 1.10. Stoneridge has a 52 week low of $21.91 and a 52 week high of $37.69.
A number of hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its position in Stoneridge by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,292 shares of the auto parts company’s stock valued at $701,000 after buying an additional 389 shares during the period. Legal & General Group Plc boosted its position in Stoneridge by 10.0% during the 4th quarter. Legal & General Group Plc now owns 4,980 shares of the auto parts company’s stock valued at $123,000 after buying an additional 452 shares during the period. Brinker Capital Inc. boosted its position in Stoneridge by 2.9% during the 1st quarter. Brinker Capital Inc. now owns 24,061 shares of the auto parts company’s stock valued at $694,000 after buying an additional 669 shares during the period. Citigroup Inc. boosted its position in Stoneridge by 5.4% during the 4th quarter. Citigroup Inc. now owns 17,721 shares of the auto parts company’s stock valued at $437,000 after buying an additional 914 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new stake in Stoneridge during the 4th quarter valued at $26,000. 94.46% of the stock is owned by institutional investors and hedge funds.
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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