Stoneridge (NYSE:SRI – Get Free Report) posted its quarterly earnings data on Wednesday. The auto parts company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. Stoneridge updated its FY 2024 guidance to -0.400–0.350 EPS and its FY24 guidance to ($0.40)-($0.35) EPS.
Stoneridge Stock Down 24.5 %
NYSE SRI traded down $2.27 during trading hours on Thursday, hitting $7.01. The company had a trading volume of 514,175 shares, compared to its average volume of 148,885. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.27 and a quick ratio of 1.31. Stoneridge has a fifty-two week low of $6.76 and a fifty-two week high of $19.91. The company has a market capitalization of $194.04 million, a price-to-earnings ratio of 132.57 and a beta of 1.31. The firm’s 50 day moving average is $11.42 and its 200 day moving average is $14.16.
Analyst Ratings Changes
A number of analysts have issued reports on SRI shares. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Stephens started coverage on Stoneridge in a research note on Monday, July 8th. They issued an “overweight” rating on the stock.
About Stoneridge
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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