$0.35 Earnings Per Share Expected for Stoneridge, Inc. (SRI) This Quarter
Equities research analysts expect Stoneridge, Inc. (NYSE:SRI) to announce earnings per share of $0.35 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Stoneridge’s earnings. Stoneridge posted earnings of $0.34 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The business is scheduled to report its next quarterly earnings results on Thursday, March 1st.
On average, analysts expect that Stoneridge will report full-year earnings of $1.46 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.47. For the next year, analysts anticipate that the company will report earnings of $1.47 per share, with EPS estimates ranging from $1.35 to $1.57. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Stoneridge.
Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The business had revenue of $203.60 million during the quarter, compared to the consensus estimate of $192.80 million. Stoneridge had a return on equity of 20.91% and a net margin of 9.45%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share.
Several research firms have recently commented on SRI. KeyCorp reissued a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. Zacks Investment Research cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub cut shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.50.
In other Stoneridge news, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were 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 of the company’s stock, valued at $615,509.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael D. Sloan sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $16.30, for a total transaction of $489,000.00. Following the completion of the transaction, the vice president now directly 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 currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in SRI. Royce & Associates LP boosted its stake in Stoneridge by 343.7% in the second quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock valued at $19,043,000 after acquiring an additional 957,237 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Stoneridge by 33.4% in the second quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock valued at $12,877,000 after acquiring an additional 209,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Stoneridge by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock worth $27,063,000 after purchasing an additional 207,761 shares during the period. Kennedy Capital Management Inc. acquired a new stake in Stoneridge in the second quarter worth $2,732,000. Finally, Walthausen & Co. LLC raised its holdings in Stoneridge by 24.0% in the second quarter. Walthausen & Co. LLC now owns 678,270 shares of the auto parts company’s stock worth $10,452,000 after purchasing an additional 131,490 shares during the period. 87.68% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Stoneridge (NYSE:SRI) traded up $0.68 during midday trading on Friday, hitting $22.23. The stock had a trading volume of 246,209 shares, compared to its average volume of 178,915. Stoneridge has a fifty-two week low of $14.16 and a fifty-two week high of $22.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.65 and a current ratio of 2.25. The firm has a market capitalization of $626.25, a P/E ratio of 14.38 and a beta of 1.47.
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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