Stoneridge (NYSE:SRI – Get Free Report) released its earnings results on Wednesday. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.32), Briefing.com reports. The firm had revenue of $213.80 million during 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%. The company’s revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the company 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 Trading Down 26.5 %
SRI traded down $2.46 during trading on Thursday, reaching $6.82. The company had a trading volume of 548,299 shares, compared to its average volume of 149,047. The stock has a market cap of $188.78 million, a P/E ratio of 100.14 and a beta of 1.31. The business has a 50 day simple moving average of $11.42 and a 200-day simple moving average of $14.16. Stoneridge has a 52 week low of $6.76 and a 52 week high of $19.91. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.69.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on SRI. StockNews.com raised shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stephens began coverage on shares of Stoneridge in a report on Monday, July 8th. They set an “overweight” rating for the company.
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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