Brokerages expect that Stoneridge, Inc. (NYSE:SRI) will announce sales of $179.05 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Stoneridge’s earnings. The lowest sales estimate is $173.60 million and the highest is $184.50 million. Stoneridge posted sales of $189.73 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The company is expected to announce its next quarterly earnings report on Wednesday, February 23rd.
According to Zacks, analysts expect that Stoneridge will report full-year sales of $745.36 million for the current financial year, with estimates ranging from $740.41 million to $750.30 million. For the next year, analysts expect that the firm will report sales of $773.32 million, with estimates ranging from $748.43 million to $798.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Stoneridge.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, October 27th. The auto parts company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.03. Stoneridge had a net margin of 1.74% and a negative return on equity of 1.92%. The business had revenue of $181.70 million for the quarter, compared to analyst estimates of $180.03 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year.
In other Stoneridge news, CAO Robert J. Jr. Hartman sold 3,880 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $22.08, for a total value of $85,670.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Stoneridge by 90.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,900 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 900 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Stoneridge by 25.4% during the 3rd quarter. Royal Bank of Canada now owns 4,936 shares of the auto parts company’s stock worth $101,000 after purchasing an additional 1,000 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Stoneridge by 145.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,840 shares of the auto parts company’s stock worth $139,000 after purchasing an additional 4,055 shares during the last quarter. Citigroup Inc. increased its stake in shares of Stoneridge by 20.0% during the 3rd quarter. Citigroup Inc. now owns 7,037 shares of the auto parts company’s stock worth $143,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its stake in shares of Stoneridge by 102,828.6% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,205 shares of the auto parts company’s stock worth $213,000 after purchasing an additional 7,198 shares during the last quarter. Institutional investors own 94.68% of the company’s stock.
SRI stock opened at $20.37 on Friday. Stoneridge has a 52-week low of $18.47 and a 52-week high of $38.20. The company’s 50 day simple moving average is $21.24 and its 200-day simple moving average is $23.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 1.39. The firm has a market capitalization of $553.62 million, a P/E ratio of 43.34 and a beta of 1.23.
Stoneridge Company Profile
Stoneridge, Inc engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil.
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