Stoneridge (SRI) Announces Earnings Results

Stoneridge (NYSE:SRI) issued its quarterly earnings results on Friday. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.04, reports. Stoneridge had a return on equity of 21.43% and a net margin of 6.52%. The business had revenue of $208.90 million during the quarter, compared to analyst estimates of $204.36 million. During the same quarter in the prior year, the business posted $0.36 EPS. Stoneridge’s revenue for the quarter was up 2.6% compared to the same quarter last year. Stoneridge updated its FY 2018 guidance to $2.05-2.05 EPS.

Shares of Stoneridge stock traded down $0.08 during trading on Friday, reaching $22.56. 380,792 shares of the stock traded hands, compared to its average volume of 277,424. The firm has a market cap of $644.85 million, a price-to-earnings ratio of 14.37, a PEG ratio of 1.31 and a beta of 1.06. The company has a quick ratio of 1.59, a current ratio of 2.13 and a debt-to-equity ratio of 0.43. Stoneridge has a 52-week low of $20.63 and a 52-week high of $37.69.

A number of brokerages have issued reports on SRI. Zacks Investment Research lowered Stoneridge from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Buckingham Research cut their price target on Stoneridge from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, October 3rd. ValuEngine lowered Stoneridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Barrington Research reiterated a “buy” rating on shares of Stoneridge in a research note on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $34.00.

About Stoneridge

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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Earnings History for Stoneridge (NYSE:SRI)

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