Zacks: Analysts Expect Stoneridge, Inc. (SRI) Will Post Quarterly Sales of $200.40 Million

Equities analysts expect that Stoneridge, Inc. (NYSE:SRI) will announce sales of $200.40 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Stoneridge’s earnings, with the highest sales estimate coming in at $201.20 million and the lowest estimate coming in at $199.60 million. Stoneridge posted sales of $172.61 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The firm is scheduled to announce its next quarterly earnings report 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 fiscal year, analysts expect that the firm will report sales of $853.10 million per share, with estimates ranging from $845.40 million to $860.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Stoneridge.

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

SRI has been the topic of several research reports. Zacks Investment Research downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. KeyCorp restated a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. B. Riley reiterated a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. Finally, ValuEngine upgraded shares of Stoneridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Stoneridge has a consensus rating of “Hold” and an average target price of $24.50.

Stoneridge (NYSE:SRI) opened at $26.35 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.24 and a quick ratio of 1.65. Stoneridge has a one year low of $14.16 and a one year high of $26.47. The company has a market cap of $742.31, a PE ratio of 10.06 and a beta of 1.45.

In other Stoneridge 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 sale, the vice president now directly owns 76,529 shares in the company, valued at $1,646,138.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in Stoneridge by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 112,389 shares of the auto parts company’s stock worth $1,732,000 after buying an additional 627 shares in the last quarter. Horizon Investment Services LLC grew its stake in Stoneridge by 0.6% during the second quarter. Horizon Investment Services LLC now owns 110,869 shares of the auto parts company’s stock worth $1,708,000 after buying an additional 713 shares in the last quarter. Voya Investment Management LLC grew its stake in Stoneridge by 12.7% during the second quarter. Voya Investment Management LLC now owns 16,416 shares of the auto parts company’s stock worth $253,000 after buying an additional 1,851 shares in the last quarter. Rhumbline Advisers grew its stake in Stoneridge by 6.9% during the second quarter. Rhumbline Advisers now owns 38,406 shares of the auto parts company’s stock worth $592,000 after buying an additional 2,475 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Stoneridge by 2.8% during the second quarter. Prudential Financial Inc. now owns 166,992 shares of the auto parts company’s stock worth $2,573,000 after buying an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 86.98% of the company’s stock.

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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.

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