Analysts expect Stoneridge, Inc. (NYSE:SRI) to report earnings per share of $0.55 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Stoneridge’s earnings. The highest EPS estimate is $0.56 and the lowest is $0.53. Stoneridge reported earnings of $0.42 per share in the same quarter last year, which would indicate a positive year over year growth rate of 31%. The business is expected to announce its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Stoneridge will report full year earnings of $2.11 per share for the current financial year, with EPS estimates ranging from $2.05 to $2.16. For the next financial year, analysts forecast that the firm will report earnings of $2.26 per share, with EPS estimates ranging from $2.20 to $2.29. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Stoneridge.
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Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, May 2nd. The auto parts company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Stoneridge had a net margin of 5.89% and a return on equity of 20.81%. The firm had revenue of $225.90 million during the quarter, compared to analysts’ expectations of $213.94 million. During the same period last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year.
Several research firms have recently commented on SRI. Buckingham Research began coverage on shares of Stoneridge in a research report on Wednesday, June 20th. They issued a “buy” rating and a $37.00 target price for the company. 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. ValuEngine cut shares of Stoneridge from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. CL King began coverage on shares of Stoneridge in a research report on Monday, April 23rd. They issued a “buy” rating and a $34.00 target price for the company. Finally, Stephens raised shares of Stoneridge from an “equal” rating to a “weight” rating in a research report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Stoneridge currently has a consensus rating of “Buy” and an average target price of $31.40.
Shares of NYSE:SRI traded up $0.69 on Thursday, hitting $35.85. The company had a trading volume of 312,000 shares, compared to its average volume of 278,880. Stoneridge has a 1 year low of $14.72 and a 1 year high of $37.69. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 2.06 and a beta of 1.03.
In related news, insider Jonathan B. Degaynor sold 30,000 shares of the stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $29.90, for a total value of $897,000.00. Following the completion of the transaction, the insider now directly owns 79,122 shares in the company, valued at approximately $2,365,747.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert J. Jr. Hartman sold 6,393 shares of the stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $27.86, for a total transaction of $178,108.98. Following the completion of the transaction, the chief accounting officer now owns 37,281 shares of the company’s stock, valued at $1,038,648.66. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of SRI. Dynamic Technology Lab Private Ltd bought a new stake in Stoneridge during the 1st quarter valued at about $298,000. WINTON GROUP Ltd bought a new stake in Stoneridge during the 1st quarter valued at about $588,000. Royal Bank of Canada increased its stake in Stoneridge by 130.1% during the 1st quarter. Royal Bank of Canada now owns 851,241 shares of the auto parts company’s stock valued at $23,494,000 after purchasing an additional 481,254 shares in the last quarter. Millennium Management LLC increased its stake in Stoneridge by 92.4% during the 1st quarter. Millennium Management LLC now owns 246,708 shares of the auto parts company’s stock valued at $6,809,000 after purchasing an additional 118,463 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Stoneridge by 48.7% during the 1st quarter. Segall Bryant & Hamill LLC now owns 158,250 shares of the auto parts company’s stock valued at $4,368,000 after purchasing an additional 51,814 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.
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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