Stoneridge, Inc. (NYSE:SRI) Expected to Post Earnings of $0.37 Per Share

Analysts expect Stoneridge, Inc. (NYSE:SRI) to post earnings per share of $0.37 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Stoneridge’s earnings. The highest EPS estimate is $0.40 and the lowest is $0.34. Stoneridge reported earnings of $0.47 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 21.3%. The firm is scheduled to issue its next earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that Stoneridge will report full year earnings of $1.52 per share for the current year, with EPS estimates ranging from $1.50 to $1.59. For the next year, analysts anticipate that the company will post earnings of $1.68 per share, with EPS estimates ranging from $1.54 to $1.92. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Stoneridge.

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.37 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. The company had revenue of $203.39 million for the quarter, compared to analyst estimates of $203.21 million. Stoneridge had a net margin of 7.97% and a return on equity of 16.59%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share.

A number of brokerages have recently issued reports on SRI. ValuEngine lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Zacks Investment Research lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, B. Riley set a $33.00 target price on shares of Stoneridge and gave the stock a “hold” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $34.25.

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stoneridge by 8,017.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,181,223 shares of the auto parts company’s stock worth $37,268,000 after purchasing an additional 1,166,672 shares during the period. Bank of New York Mellon Corp lifted its holdings in Stoneridge by 264.3% in the second quarter. Bank of New York Mellon Corp now owns 778,415 shares of the auto parts company’s stock valued at $24,559,000 after acquiring an additional 564,715 shares during the period. Nuveen Asset Management LLC acquired a new stake in Stoneridge in the second quarter valued at $14,279,000. Cadence Capital Management LLC acquired a new stake in Stoneridge in the third quarter valued at $2,087,000. Finally, BlackRock Inc. lifted its holdings in Stoneridge by 3.3% in the second quarter. BlackRock Inc. now owns 1,966,904 shares of the auto parts company’s stock valued at $62,053,000 after acquiring an additional 62,019 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Stoneridge stock traded down $0.15 during mid-day trading on Friday, hitting $29.52. The company had a trading volume of 203,959 shares, compared to its average volume of 162,412. The stock has a market cap of $812.40 million, a price-to-earnings ratio of 12.30, a PEG ratio of 1.97 and a beta of 1.30. Stoneridge has a 1 year low of $24.97 and a 1 year high of $34.46. The company has a quick ratio of 1.42, a current ratio of 2.06 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $30.18 and a 200 day moving average of $30.94.

Stoneridge Company Profile

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

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