Stoneridge (NYSE:SRI) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Stoneridge (NYSE:SRI) released its quarterly earnings results on Wednesday. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05), Briefing.com reports. The company had revenue of $239.20 million for the quarter, compared to analysts’ expectations of $223.20 million. Stoneridge had a positive return on equity of 0.84% and a negative net margin of 0.41%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.25) EPS. Stoneridge updated its FY 2024 guidance to 0.300-0.400 EPS.

Stoneridge Trading Up 3.5 %

Shares of SRI opened at $15.32 on Friday. The stock has a fifty day moving average of $16.71 and a two-hundred day moving average of $17.27. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 2.39. Stoneridge has a fifty-two week low of $14.18 and a fifty-two week high of $24.51. The company has a market capitalization of $423.90 million, a PE ratio of -109.42 and a beta of 1.41.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Stoneridge from a “buy” rating to a “hold” rating in a research note on Friday, March 1st.

Insiders Place Their Bets

In related news, Director Kim Korth sold 7,745 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $16.49, for a total value of $127,715.05. Following the transaction, the director now owns 73,227 shares in the company, valued at $1,207,513.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Stoneridge Company Profile

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.