Stoneridge, Inc. (SRI) Expected to Post Earnings of $0.51 Per Share

Wall Street analysts predict that Stoneridge, Inc. (NYSE:SRI) will report earnings per share of $0.51 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Stoneridge’s earnings, with estimates ranging from $0.48 to $0.54. Stoneridge posted earnings per share of $0.42 in the same quarter last year, which indicates a positive year over year growth rate of 21.4%. The company is scheduled to issue its next earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that Stoneridge will report full-year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.06. For the next fiscal year, analysts forecast that the business will post earnings of $2.16 per share, with EPS estimates ranging from $2.12 to $2.19. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Stoneridge.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Friday, October 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Stoneridge had a net margin of 7.09% and a return on equity of 21.77%. The business had revenue of $208.90 million during the quarter, compared to analyst estimates of $204.36 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis.

SRI has been the subject of several analyst reports. ValuEngine lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Barrington Research set a $50.00 price target on shares of Stoneridge and gave the company a “buy” rating in a research report on Monday, October 29th. Stephens set a $35.00 price target on shares of Stoneridge and gave the company a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research lowered shares of Stoneridge from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Finally, Buckingham Research cut their price target on shares of Stoneridge from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.17.

NYSE SRI traded up $0.29 during trading on Friday, hitting $25.74. 4,284 shares of the company’s stock traded hands, compared to its average volume of 333,961. The company has a quick ratio of 1.60, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. Stoneridge has a 12-month low of $20.78 and a 12-month high of $37.69. The firm has a market cap of $726.64 million, a price-to-earnings ratio of 16.16, a PEG ratio of 1.47 and a beta of 1.10.

Several institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC boosted its holdings in shares of Stoneridge by 34.9% during the third quarter. Wedge Capital Management L L P NC now owns 9,528 shares of the auto parts company’s stock worth $283,000 after purchasing an additional 2,466 shares during the period. First Quadrant L P CA boosted its holdings in shares of Stoneridge by 47.1% during the third quarter. First Quadrant L P CA now owns 9,286 shares of the auto parts company’s stock worth $276,000 after purchasing an additional 2,974 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Stoneridge by 11.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 29,232 shares of the auto parts company’s stock worth $1,027,000 after purchasing an additional 2,984 shares during the period. USA Financial Portformulas Corp purchased a new stake in shares of Stoneridge during the third quarter worth about $105,000. Finally, American Century Companies Inc. boosted its holdings in shares of Stoneridge by 1.3% during the third quarter. American Century Companies Inc. now owns 235,051 shares of the auto parts company’s stock worth $6,986,000 after purchasing an additional 3,003 shares during the period. Institutional investors own 91.96% 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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