Stoneridge (SRI) Set to Announce Quarterly Earnings on Wednesday

Stoneridge (NYSE:SRI) will post its quarterly earnings results after the market closes on Wednesday, May 1st. Stoneridge has set its FY 2024 guidance at 0.300-0.400 EPS and its FY24 guidance at $0.30-0.40 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, February 28th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $229.50 million during the quarter, compared to the consensus estimate of $234.20 million. Stoneridge had a negative return on equity of 0.72% and a negative net margin of 0.53%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. On average, analysts expect Stoneridge to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Stoneridge Price Performance

Shares of SRI opened at $15.36 on Wednesday. Stoneridge has a 52-week low of $14.18 and a 52-week high of $24.51. The stock has a 50 day moving average price of $17.21 and a 200 day moving average price of $17.43. The company has a quick ratio of 1.36, a current ratio of 2.41 and a debt-to-equity ratio of 0.66.

Insider Activity

In other news, Director Kim Korth sold 7,745 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $16.49, for a total value of $127,715.05. Following the completion of the sale, the director now directly owns 73,227 shares of the company’s stock, valued at $1,207,513.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Stoneridge from a “buy” rating to a “hold” rating in a report on Friday, March 1st.

Stoneridge Company Profile

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.