Wall Street brokerages expect Stoneridge, Inc. (NYSE:SRI) to report earnings per share (EPS) of $0.48 for the current quarter, according to Zacks. Two analysts have issued estimates for Stoneridge’s earnings, with estimates ranging from $0.46 to $0.50. Stoneridge reported earnings per share of $0.38 during the same quarter last year, which suggests a positive year-over-year growth rate of 26.3%. The company is expected to announce its next earnings report after the market closes on Wednesday, May 2nd.
On average, analysts expect that Stoneridge will report full year earnings of $1.97 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $2.01. For the next financial year, analysts expect that the company will post earnings of $2.13 per share, with EPS estimates ranging from $2.09 to $2.16. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Stoneridge.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, February 28th. The auto parts company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.05. Stoneridge had a return on equity of 20.36% and a net margin of 5.48%. The company had revenue of $207.40 million for the quarter, compared to the consensus estimate of $206.50 million. During the same quarter last year, the business posted $0.34 EPS. Stoneridge’s revenue for the quarter was up 20.2% on a year-over-year basis.
SRI has been the topic of several recent research reports. Zacks Investment Research raised Stoneridge from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Saturday, January 13th. B. Riley lifted their target price on Stoneridge from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, March 6th. Barrington Research assumed coverage on Stoneridge in a report on Tuesday, April 3rd. They set an “outperform” rating and a $34.00 target price on the stock. ValuEngine raised Stoneridge from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, Stephens raised Stoneridge from an “equal” rating to a “weight” rating in a report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Stoneridge currently has an average rating of “Buy” and an average target price of $28.33.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Stoneridge by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 217,360 shares of the auto parts company’s stock worth $4,968,000 after buying an additional 2,387 shares during the period. Bank of New York Mellon Corp raised its position in shares of Stoneridge by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 296,306 shares of the auto parts company’s stock worth $6,775,000 after acquiring an additional 2,672 shares in the last quarter. First Trust Advisors LP raised its position in shares of Stoneridge by 13.3% in the 4th quarter. First Trust Advisors LP now owns 23,955 shares of the auto parts company’s stock worth $548,000 after acquiring an additional 2,815 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in shares of Stoneridge by 18.0% in the 4th quarter. Brandywine Global Investment Management LLC now owns 20,086 shares of the auto parts company’s stock worth $460,000 after acquiring an additional 3,064 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Stoneridge by 3.6% in the 4th quarter. Alliancebernstein L.P. now owns 101,500 shares of the auto parts company’s stock worth $2,320,000 after acquiring an additional 3,570 shares in the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SRI traded up $0.07 during mid-day trading on Friday, hitting $29.29. 187,845 shares of the stock traded hands, compared to its average volume of 243,458. The company has a quick ratio of 1.69, a current ratio of 2.23 and a debt-to-equity ratio of 0.51. Stoneridge has a twelve month low of $14.16 and a twelve month high of $30.34. The company has a market cap of $820.60, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.
Stoneridge, Inc engages in the design and manufacture of engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics and PST. The Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle such as sensors, switches, valves, and actuators.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stoneridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge and related companies with MarketBeat.com's FREE daily email newsletter.