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.
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.
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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