Stoneridge (SRI) Releases Quarterly Earnings Results
Stoneridge (NYSE:SRI) issued its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.11 by $0.06, American Banking News reports. The company had revenue of $236.40 million for the quarter, compared to the consensus estimate of $245.94 million. During the same quarter last year, the company posted $0.15 earnings per share. Stoneridge’s revenue was up .3% compared to the same quarter last year.
Shares of Stoneridge (NYSE:SRI) traded down 0.84% during mid-day trading on Thursday, hitting $10.68. 32,017 shares of the company’s stock traded hands. Stoneridge has a 52 week low of $8.13 and a 52 week high of $13.63. The stock has a 50-day moving average of $11.00 and a 200-day moving average of $11.64. The company has a market cap of $302.6 million and a price-to-earnings ratio of 19.23.
SRI has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Stoneridge from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $10.90 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $12.73.
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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