Stoneridge (NYSE:SRI – Get 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.
Stoneridge Company Profile
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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