Brokerages predict that Stoneridge, Inc. (NYSE:SRI) will post sales of $205.68 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Stoneridge’s earnings, with the highest sales estimate coming in at $209.80 million and the lowest estimate coming in at $201.55 million. Stoneridge reported sales of $203.58 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1%. The company is expected to issue its next earnings results on Wednesday, November 7th.
On average, analysts expect that Stoneridge will report full-year sales of $872.16 million for the current year, with estimates ranging from $872.11 million to $872.20 million. For the next financial year, analysts anticipate that the business will report sales of $911.86 million per share, with estimates ranging from $908.11 million to $915.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Stoneridge.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.55 earnings per share 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 analysts’ expectations of $220.40 million. During the same quarter last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year.
Several research firms have commented on SRI. Buckingham Research began coverage on shares of Stoneridge in a research report on Wednesday, June 20th. They set a “buy” rating and a $37.00 target price on the stock. Barrington Research set a $35.00 target price on shares of Stoneridge and gave the stock a “buy” rating in a research report on Friday, June 1st. Finally, ValuEngine raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $34.40.
NYSE SRI traded down $0.84 during trading hours on Friday, hitting $28.50. The company’s stock had a trading volume of 129,700 shares, compared to its average volume of 266,324. Stoneridge has a 52 week low of $16.43 and a 52 week high of $37.69. The stock has a market cap of $852.49 million, a price-to-earnings ratio of 18.73, a PEG ratio of 1.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.59 and a current ratio of 2.13.
Several institutional investors have recently bought and sold shares of the business. ClariVest Asset Management LLC lifted its position in shares of Stoneridge by 4.4% during the 1st quarter. ClariVest Asset Management LLC now owns 44,008 shares of the auto parts company’s stock worth $1,215,000 after buying an additional 1,855 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Stoneridge by 2.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 125,615 shares of the auto parts company’s stock worth $3,467,000 after buying an additional 2,545 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Stoneridge by 11.4% during the 2nd 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 buying an additional 2,984 shares in the last quarter. Zacks Investment Management lifted its position in shares of Stoneridge by 7.3% during the 2nd quarter. Zacks Investment Management now owns 51,886 shares of the auto parts company’s stock worth $1,823,000 after buying an additional 3,526 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of Stoneridge by 38.8% during the 1st quarter. GW&K Investment Management LLC now owns 13,495 shares of the auto parts company’s stock worth $372,000 after buying an additional 3,770 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
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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