Equities research analysts expect Stoneridge, Inc. (NYSE:SRI) to announce earnings of $0.55 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Stoneridge’s earnings. The lowest EPS estimate is $0.53 and the highest is $0.56. Stoneridge posted earnings of $0.42 per share during the same quarter last year, which would indicate a positive year over year growth rate of 31%. The company is scheduled to issue its next quarterly earnings report on Wednesday, August 1st.
On average, analysts expect that Stoneridge will report full-year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.16. For the next year, analysts forecast that the business will report earnings of $2.23 per share, with EPS estimates ranging from $2.15 to $2.28. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Stoneridge.
Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, May 2nd. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $225.90 million for the quarter, compared to the consensus estimate of $213.94 million. Stoneridge had a return on equity of 20.81% and a net margin of 5.89%. Stoneridge’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share.
A number of brokerages have issued reports on SRI. ValuEngine downgraded Stoneridge from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Barrington Research set a $35.00 price target on Stoneridge and gave the stock a “buy” rating in a research report on Tuesday, May 1st. CL King began coverage on Stoneridge in a research report on Monday, April 23rd. They set a “buy” rating and a $34.00 price target on the stock. Stephens raised Stoneridge from an “equal” rating to a “weight” rating in a report on Tuesday, March 20th. Finally, B. Riley increased their target price on Stoneridge from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.00.
In related news, insider Jonathan B. Degaynor sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $29.90, for a total value of $897,000.00. Following the completion of the sale, the insider now owns 79,122 shares of the company’s stock, valued at $2,365,747.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert J. Jr. Hartman sold 6,393 shares of the stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $27.86, for a total value of $178,108.98. Following the completion of the sale, the chief accounting officer now directly owns 37,281 shares of the company’s stock, valued at approximately $1,038,648.66. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC increased its holdings in shares of Stoneridge by 4.4% in the first quarter. ClariVest Asset Management LLC now owns 44,008 shares of the auto parts company’s stock valued at $1,215,000 after purchasing an additional 1,855 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Stoneridge by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 217,360 shares of the auto parts company’s stock valued at $4,968,000 after purchasing an additional 2,387 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Stoneridge by 2.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 125,615 shares of the auto parts company’s stock valued at $3,467,000 after purchasing an additional 2,545 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Stoneridge by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 296,306 shares of the auto parts company’s stock valued at $6,775,000 after purchasing an additional 2,672 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Stoneridge by 13.3% in the fourth quarter. First Trust Advisors LP now owns 23,955 shares of the auto parts company’s stock valued at $548,000 after purchasing an additional 2,815 shares during the last quarter. 86.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Stoneridge opened at $31.34 on Friday, Marketbeat reports. The company has a market cap of $892.43 million, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.46. Stoneridge has a 12-month low of $14.16 and a 12-month high of $31.93.
Stoneridge Company Profile
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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