Analysts Anticipate Stoneridge, Inc. (SRI) to Post $0.32 Earnings Per Share
Analysts forecast that Stoneridge, Inc. (NYSE:SRI) will report earnings per share of $0.32 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Stoneridge’s earnings. Stoneridge posted earnings of $0.36 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 11.1%. The firm is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Stoneridge will report full year earnings of $1.47 per share for the current fiscal year. For the next financial year, analysts expect that the business will report earnings of $1.57 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Stoneridge.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.10. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The business had revenue of $209.10 million during the quarter, compared to analyst estimates of $202.45 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year.
A number of equities research analysts recently commented on SRI shares. Zacks Investment Research upgraded Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine lowered Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub lowered Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Finally, B. Riley restated a “buy” rating and set a $22.00 price target on shares of Stoneridge in a research report on Saturday, May 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Stoneridge presently has a consensus rating of “Hold” and an average price target of $18.67.
In other Stoneridge news, insider Robert J. Jr. Hartman sold 7,358 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $16.51, for a total value of $121,480.58. Following the transaction, the insider now directly owns 37,281 shares in the company, valued at approximately $615,509.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael D. Sloan sold 30,000 shares of the stock in a transaction on Monday, August 14th. The shares were 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 disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SRI. Teachers Advisors LLC boosted its position in Stoneridge by 9.2% in the 4th quarter. Teachers Advisors LLC now owns 46,212 shares of the auto parts company’s stock valued at $817,000 after buying an additional 3,876 shares during the last quarter. Nationwide Fund Advisors boosted its position in Stoneridge by 22.9% in the 1st quarter. Nationwide Fund Advisors now owns 171,175 shares of the auto parts company’s stock valued at $3,105,000 after buying an additional 31,896 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Stoneridge by 55.0% in the 1st quarter. Russell Investments Group Ltd. now owns 109,572 shares of the auto parts company’s stock valued at $1,988,000 after buying an additional 38,872 shares during the last quarter. Wells Fargo & Company MN boosted its position in Stoneridge by 9.3% in the 1st quarter. Wells Fargo & Company MN now owns 47,412 shares of the auto parts company’s stock valued at $860,000 after buying an additional 4,015 shares during the last quarter. Finally, LSV Asset Management boosted its position in Stoneridge by 6.0% in the 1st quarter. LSV Asset Management now owns 699,700 shares of the auto parts company’s stock valued at $12,692,000 after buying an additional 39,800 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.
Stoneridge (SRI) traded up 0.24% on Friday, reaching $16.61. The company had a trading volume of 158,164 shares. The stock has a market cap of $467.89 million, a price-to-earnings ratio of 6.15 and a beta of 1.33. 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 $16.18 and a 200 day moving average of $16.80.
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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