Zacks: Analysts Anticipate Stoneridge, Inc. (SRI) to Announce $0.36 Earnings Per Share

Brokerages expect Stoneridge, Inc. (NYSE:SRI) to post earnings per share of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Stoneridge’s earnings, with estimates ranging from $0.35 to $0.36. Stoneridge reported earnings of $0.34 per share during the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The company is scheduled to issue its next earnings results on Thursday, March 1st.

On average, analysts expect that Stoneridge will report full year earnings of $1.50 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.54. For the next year, analysts forecast that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.50 to $1.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Stoneridge.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $203.60 million during the quarter, compared to the consensus estimate of $192.80 million. During the same period in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis.

A number of equities research analysts have recently weighed in on SRI shares. KeyCorp reaffirmed a “hold” rating on shares of Stoneridge in a research note on Friday, November 17th. Zacks Investment Research raised Stoneridge from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Saturday, January 13th. ValuEngine raised Stoneridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, B. Riley reaffirmed a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.50.

Stoneridge (NYSE:SRI) traded down $0.56 on Thursday, hitting $25.45. The stock had a trading volume of 162,842 shares, compared to its average volume of 229,250. Stoneridge has a 52 week low of $14.16 and a 52 week high of $26.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.24 and a quick ratio of 1.65. The stock has a market cap of $703.72, a P/E ratio of 9.71 and a beta of 1.45.

In other news, VP Thomas A. Beaver sold 49,779 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in shares of Stoneridge by 26.0% during the 4th quarter. Acadian Asset Management LLC now owns 186,200 shares of the auto parts company’s stock valued at $4,258,000 after acquiring an additional 38,469 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Stoneridge by 4.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 123,070 shares of the auto parts company’s stock valued at $2,814,000 after acquiring an additional 4,901 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Stoneridge by 111,050.6% during the 4th quarter. Bank of Montreal Can now owns 98,924 shares of the auto parts company’s stock valued at $2,262,000 after acquiring an additional 98,835 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Stoneridge by 112.8% during the 3rd quarter. GSA Capital Partners LLP now owns 72,215 shares of the auto parts company’s stock valued at $1,431,000 after acquiring an additional 38,276 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Stoneridge by 5.7% during the 3rd quarter. California Public Employees Retirement System now owns 126,157 shares of the auto parts company’s stock valued at $2,499,000 after acquiring an additional 6,757 shares during the last quarter. 86.98% of the stock is currently owned by institutional investors and hedge funds.

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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.

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