Zacks: Analysts Expect Stoneridge, Inc. (SRI) Will Post Earnings of $0.43 Per Share

Brokerages expect Stoneridge, Inc. (NYSE:SRI) to report $0.43 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Stoneridge’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.40. Stoneridge posted earnings per share of $0.36 during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.4%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Stoneridge will report full year earnings of $2.05 per share for the current fiscal year, with EPS estimates ranging from $2.04 to $2.07. For the next fiscal year, analysts forecast that the company will report earnings of $2.23 per share, with EPS estimates ranging from $2.15 to $2.30. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Stoneridge.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Stoneridge had a net margin of 6.52% and a return on equity of 21.43%. The business had revenue of $220.60 million for the quarter, compared to the consensus estimate of $220.40 million. During the same period in the prior year, the company posted $0.42 earnings per share. Stoneridge’s revenue was up 5.5% compared to the same quarter last year.

Several equities analysts recently commented on the stock. Barrington Research set a $35.00 price target on shares of Stoneridge and gave the company a “buy” rating in a research note on Friday, June 1st. ValuEngine upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Buckingham Research assumed coverage on shares of Stoneridge in a research note on Wednesday, June 20th. They issued a “buy” rating and a $37.00 price target on the stock. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $34.40.

SRI stock opened at $28.43 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.59 and a current ratio of 2.13. Stoneridge has a 52 week low of $17.28 and a 52 week high of $37.69. The stock has a market capitalization of $803.78 million, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

Hedge funds have recently added to or reduced their stakes in the stock. Pembroke Management LTD grew its stake in shares of Stoneridge by 8.9% in the second quarter. Pembroke Management LTD now owns 716,961 shares of the auto parts company’s stock valued at $25,194,000 after acquiring an additional 58,538 shares in the last quarter. Engineers Gate Manager LP grew its stake in Stoneridge by 71.4% during the second quarter. Engineers Gate Manager LP now owns 45,382 shares of the auto parts company’s stock worth $1,595,000 after buying an additional 18,910 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Stoneridge during the second quarter worth about $2,842,000. Millennium Management LLC grew its stake in Stoneridge by 92.4% during the first quarter. Millennium Management LLC now owns 246,708 shares of the auto parts company’s stock worth $6,809,000 after buying an additional 118,463 shares in the last quarter. Finally, IndexIQ Advisors LLC grew its stake in Stoneridge by 9.1% during the second quarter. IndexIQ Advisors LLC now owns 79,253 shares of the auto parts company’s stock worth $2,785,000 after buying an additional 6,579 shares in the last quarter. Institutional investors and hedge funds own 91.01% of the company’s stock.

About Stoneridge

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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Earnings History and Estimates for Stoneridge (NYSE:SRI)

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