Wall Street analysts expect that Stoneridge, Inc. (NYSE:SRI) will announce $203.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Stoneridge’s earnings. The highest sales estimate is $205.90 million and the lowest is $201.55 million. Stoneridge reported sales of $203.58 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Stoneridge will report full-year sales of $872.06 million for the current fiscal year, with estimates ranging from $872.00 million to $872.11 million. For the next financial year, analysts forecast that the business will post sales of $911.81 million, with estimates ranging from $908.11 million to $915.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Stoneridge.
Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, August 1st. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $220.40 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis.
Several research analysts recently weighed in on SRI shares. Barrington Research restated a “buy” rating and set a $50.00 price target on shares of Stoneridge in a research report on Tuesday, July 31st. Buckingham Research started coverage on shares of Stoneridge in a research report on Wednesday, June 20th. They set a “buy” rating and a $37.00 price target for the company. ValuEngine downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Stoneridge presently has an average rating of “Hold” and an average target price of $34.00.
Shares of SRI traded down $0.31 during mid-day trading on Friday, hitting $27.78. 7,240 shares of the company were exchanged, compared to its average volume of 266,583. Stoneridge has a 1-year low of $20.63 and a 1-year high of $37.69. The company has a quick ratio of 1.59, a current ratio of 2.13 and a debt-to-equity ratio of 0.43. The company has a market cap of $846.51 million, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06.
A number of hedge funds have recently added to or reduced their stakes in SRI. BlackRock Inc. increased its holdings in shares of Stoneridge by 5.2% during the 2nd quarter. BlackRock Inc. now owns 2,116,009 shares of the auto parts company’s stock worth $74,355,000 after buying an additional 105,480 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Stoneridge by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,966,938 shares of the auto parts company’s stock worth $69,119,000 after buying an additional 18,458 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Stoneridge by 130.1% during the 1st quarter. Royal Bank of Canada now owns 851,241 shares of the auto parts company’s stock worth $23,494,000 after buying an additional 481,254 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Stoneridge by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 831,200 shares of the auto parts company’s stock worth $29,208,000 after buying an additional 96,400 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Stoneridge by 73.0% during the 2nd quarter. Acadian Asset Management LLC now owns 772,025 shares of the auto parts company’s stock worth $27,129,000 after buying an additional 325,870 shares during the last quarter. Institutional investors own 89.04% of the company’s stock.
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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