Stoneridge (NYSE:SRI) Issues FY24 Earnings Guidance

Stoneridge (NYSE:SRIGet Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.30-0.40 for the period, compared to the consensus EPS estimate of $0.45. The company issued revenue guidance of $0.99-1.01 billion, compared to the consensus revenue estimate of $999.51 million. Stoneridge also updated its FY 2024 guidance to 0.300-0.400 EPS.

Stoneridge Stock Down 2.0 %

Shares of Stoneridge stock traded down $0.38 during trading on Wednesday, reaching $18.23. The company’s stock had a trading volume of 84,871 shares, compared to its average volume of 84,557. The business has a 50 day moving average price of $18.36 and a 200-day moving average price of $18.28. The company has a market capitalization of $502.24 million, a P/E ratio of -63.07 and a beta of 1.41. Stoneridge has a 12-month low of $14.18 and a 12-month high of $24.51.

Hedge Funds Weigh In On Stoneridge

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Stoneridge by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 95,206 shares of the auto parts company’s stock worth $1,864,000 after acquiring an additional 731 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Stoneridge by 5.7% in the first quarter. Synovus Financial Corp now owns 14,312 shares of the auto parts company’s stock worth $294,000 after acquiring an additional 778 shares during the last quarter. Swiss National Bank raised its holdings in shares of Stoneridge by 1.5% in the second quarter. Swiss National Bank now owns 59,900 shares of the auto parts company’s stock worth $1,129,000 after acquiring an additional 900 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Stoneridge by 6.3% in the fourth quarter. JPMorgan Chase & Co. now owns 15,529 shares of the auto parts company’s stock worth $335,000 after acquiring an additional 914 shares during the last quarter. Finally, Credit Suisse AG raised its holdings in shares of Stoneridge by 6.0% in the second quarter. Credit Suisse AG now owns 19,886 shares of the auto parts company’s stock worth $341,000 after acquiring an additional 1,125 shares during the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

About Stoneridge

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

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