Stoneridge Inc. (SRI) Issues FY13 Earnings Guidance
Stoneridge Inc. (NYSE:SRI) updated its FY13 earnings guidance on Thursday. The company provided EPS guidance of $0.75-0.95 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.81, Stock Ratings News reports.
Stoneridge Inc. (NYSE:SRI) traded up 2.08% on Thursday, hitting $12.76. 330,889 shares of the company’s stock traded hands. Stoneridge Inc. has a one year low of $4.45 and a one year high of $13.63. The stock has a 50-day moving average of $11.91 and a 200-day moving average of $11.28. The company has a market cap of $312.5 million and a price-to-earnings ratio of 26.54.
Stoneridge (NYSE:SRI) last announced its earnings results on Thursday, October 31st. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.01. The company had revenue of $233.50 million for the quarter, compared to the consensus estimate of $239.50 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that Stoneridge Inc. will post $0.81 EPS for the current fiscal year.
A number of research firms have recently commented on SRI. Analysts at TheStreet upgraded shares of Stoneridge from a hold rating to a buy rating in a research note to investors on Wednesday, August 14th. Analysts at Stephens raised their price target on shares of Stoneridge from $12.00 to $15.50 in a research note to investors on Monday, August 5th. They now have an overweight rating on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $13.50.
In other Stoneridge news, VP Thomas A. Beaver sold 10,000 shares of Stoneridge stock on the open market in a transaction dated Monday, October 21st. The shares were sold at an average price of $13.06, for a total value of $130,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the commercial vehicle, automotive, agricultural and off-highway vehicle markets.
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