Stoneridge (NYSE:SRI) Announces Quarterly Earnings Results

Stoneridge (NYSE:SRIGet Free Report) issued its earnings results on Wednesday. The auto parts company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.32), Briefing.com reports. The company had revenue of $213.80 million for the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a return on equity of 3.03% and a net margin of 0.19%. Stoneridge’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Stoneridge updated its FY 2024 guidance to -0.400–0.350 EPS and its FY24 guidance to ($0.40)-($0.35) EPS.

Stoneridge Price Performance

NYSE:SRI traded down $2.41 during mid-day trading on Thursday, hitting $6.87. 657,794 shares of the company’s stock traded hands, compared to its average volume of 149,566. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.31 and a current ratio of 2.27. The company has a market cap of $190.16 million, a PE ratio of 100.14 and a beta of 1.31. The firm’s 50 day simple moving average is $11.42 and its 200 day simple moving average is $14.16. Stoneridge has a 1 year low of $6.76 and a 1 year high of $19.91.

Analysts Set New Price Targets

Several research analysts have weighed in on SRI shares. Stephens started coverage on shares of Stoneridge in a research report on Monday, July 8th. They set an “overweight” rating on the stock. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th.

View Our Latest Analysis on Stoneridge

Stoneridge Company Profile

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Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.

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Earnings History for Stoneridge (NYSE:SRI)

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