Stoneridge, Inc. (SRI) Expected to Post Quarterly Sales of $200.40 Million

Analysts expect Stoneridge, Inc. (NYSE:SRI) to post $200.40 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Stoneridge’s earnings, with the lowest sales estimate coming in at $199.60 million and the highest estimate coming in at $201.20 million. Stoneridge posted sales of $172.61 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.1%. The company is expected to announce its next quarterly earnings results on Thursday, March 1st.

On average, analysts expect that Stoneridge will report full year sales of $200.40 million for the current financial year, with estimates ranging from $816.60 million to $818.20 million. For the next year, analysts anticipate that the firm will post sales of $853.10 million per share, with estimates ranging from $845.40 million to $860.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Stoneridge.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, November 1st. The auto parts company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. The business had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $192.80 million. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 earnings per share.

A number of analysts have commented on SRI shares. Zacks Investment Research cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. KeyCorp reissued a “hold” rating on shares of Stoneridge in a research report on Sunday, October 15th. B. Riley reissued a “neutral” rating on shares of Stoneridge in a research report on Friday, November 3rd. Finally, ValuEngine raised shares of Stoneridge from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.50.

In other news, VP Thomas A. Beaver sold 49,779 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the transaction, the vice president now owns 76,529 shares of the company’s stock, valued at approximately $1,646,138.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in SRI. Highbridge Capital Management LLC bought a new position in shares of Stoneridge during the 3rd quarter worth about $206,000. Nine Chapters Capital Management LLC bought a new position in shares of Stoneridge during the 3rd quarter worth about $216,000. SG Americas Securities LLC bought a new position in shares of Stoneridge during the 2nd quarter worth about $217,000. Shufro Rose & Co. LLC bought a new position in shares of Stoneridge during the 3rd quarter worth about $248,000. Finally, Voya Investment Management LLC lifted its position in Stoneridge by 12.7% in the 2nd quarter. Voya Investment Management LLC now owns 16,416 shares of the auto parts company’s stock valued at $253,000 after acquiring an additional 1,851 shares in the last quarter. 86.98% of the stock is currently owned by institutional investors.

Shares of Stoneridge (NYSE SRI) traded up $0.14 on Thursday, reaching $24.04. 130,569 shares of the company’s stock were exchanged, compared to its average volume of 287,567. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $677.24, a PE ratio of 9.18 and a beta of 1.45. Stoneridge has a twelve month low of $14.16 and a twelve month high of $25.33.

TRADEMARK VIOLATION NOTICE: This report was first reported by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/04/stoneridge-inc-sri-expected-to-post-quarterly-sales-of-200-40-million.html.

About Stoneridge

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.

Get a free copy of the Zacks research report on Stoneridge (SRI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Stoneridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply