Analysts expect that Stoneridge, Inc. (NYSE:SRI) will post sales of $175.67 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Stoneridge’s earnings, with estimates ranging from $166.54 million to $184.80 million. Stoneridge reported sales of $210.81 million during the same quarter last year, which would indicate a negative year over year growth rate of 16.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 26th.
On average, analysts expect that Stoneridge will report full-year sales of $819.59 million for the current year, with estimates ranging from $810.47 million to $828.70 million. For the next fiscal year, analysts forecast that the company will post sales of $838.47 million, with estimates ranging from $824.64 million to $852.30 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Stoneridge.
Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.37 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. Stoneridge had a return on equity of 16.59% and a net margin of 7.97%. The company had revenue of $203.39 million for the quarter, compared to analysts’ expectations of $203.21 million. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis.
SRI has been the topic of several analyst reports. Zacks Investment Research cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. B. Riley set a $33.00 price objective on Stoneridge and gave the stock a “hold” rating in a research note on Friday, November 1st. Barrington Research reissued a “buy” rating and set a $35.00 price objective on shares of Stoneridge in a research note on Monday, July 29th. Finally, ValuEngine cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Stoneridge has a consensus rating of “Hold” and a consensus target price of $33.80.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Stoneridge by 8,017.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,181,223 shares of the auto parts company’s stock valued at $37,268,000 after buying an additional 1,166,672 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Stoneridge by 264.3% during the second quarter. Bank of New York Mellon Corp now owns 778,415 shares of the auto parts company’s stock valued at $24,559,000 after buying an additional 564,715 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Stoneridge during the second quarter valued at approximately $14,279,000. RK Capital Management LLC purchased a new position in shares of Stoneridge during the second quarter valued at approximately $4,733,000. Finally, Scout Investments Inc. boosted its position in shares of Stoneridge by 63.3% during the second quarter. Scout Investments Inc. now owns 220,148 shares of the auto parts company’s stock valued at $6,946,000 after buying an additional 85,374 shares during the period.
NYSE SRI traded down $0.04 during trading hours on Thursday, hitting $30.79. 122,541 shares of the company were exchanged, compared to its average volume of 226,443. The stock has a 50-day moving average price of $31.33 and a 200 day moving average price of $30.65. The company has a quick ratio of 1.42, a current ratio of 2.06 and a debt-to-equity ratio of 0.46. Stoneridge has a 52 week low of $21.91 and a 52 week high of $34.46. The stock has a market cap of $835.68 million, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.27.
Stoneridge Company Profile
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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