Analysts Expect Stoneridge, Inc. (SRI) Will Post Quarterly Sales of $200.40 Million
Equities analysts expect that Stoneridge, Inc. (NYSE:SRI) will report $200.40 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Stoneridge’s earnings, with estimates ranging from $199.60 million to $201.20 million. Stoneridge reported sales of $172.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, March 1st.
According to Zacks, analysts expect that Stoneridge will report full-year sales of $200.40 million for the current fiscal year, with estimates ranging from $816.60 million to $818.20 million. For the next financial year, analysts anticipate that the firm will report sales of $853.10 million per share, with estimates ranging from $845.40 million to $860.80 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Stoneridge.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The business had revenue of $203.60 million for the quarter, compared to analyst estimates of $192.80 million. During the same quarter in the prior year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 17.1% compared to the same quarter last year.
In related news, VP Thomas A. Beaver sold 49,779 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $21.51, for a total value of $1,070,746.29. Following the completion of the transaction, the vice president now directly owns 76,529 shares of the company’s stock, valued at approximately $1,646,138.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 37,281 shares of the company’s stock, valued at $615,509.31. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SRI. Legal & General Group Plc raised its stake in Stoneridge by 12.2% in the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock valued at $128,000 after purchasing an additional 772 shares during the last quarter. CAPROCK Group Inc. acquired a new position in Stoneridge in the 2nd quarter valued at $157,000. Highbridge Capital Management LLC acquired a new position in Stoneridge in the 3rd quarter valued at $206,000. Nine Chapters Capital Management LLC acquired a new position in Stoneridge in the 3rd quarter valued at $216,000. Finally, SG Americas Securities LLC acquired a new position in Stoneridge in the 2nd quarter valued at $217,000. 86.94% of the stock is owned by hedge funds and other institutional investors.
Stoneridge (NYSE SRI) traded down $0.32 during trading on Thursday, reaching $22.82. The company’s stock had a trading volume of 247,028 shares, compared to its average volume of 155,591. The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. Stoneridge has a 1-year low of $14.16 and a 1-year high of $23.47. The stock has a market cap of $649.35, a price-to-earnings ratio of 15.37 and a beta of 1.48.
COPYRIGHT VIOLATION WARNING: “Analysts Expect Stoneridge, Inc. (SRI) Will Post Quarterly Sales of $200.40 Million” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/11/30/analysts-expect-stoneridge-inc-sri-will-post-quarterly-sales-of-200-40-million.html.
Stoneridge Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stoneridge Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge Inc. and related companies with MarketBeat.com's FREE daily email newsletter.