Stoneridge (NYSE:SRI) Issues Earnings Results, Misses Estimates By $0.05 EPS

Stoneridge (NYSE:SRI) released its quarterly earnings data on Wednesday. The auto parts company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05), Briefing.com reports. The firm had revenue of $239.20 million during the quarter, compared to analyst estimates of $223.20 million. Stoneridge had a negative return on equity of 0.72% and a negative net margin of 0.53%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) EPS. Stoneridge updated its FY 2024 guidance to 0.300-0.400 EPS.

Stoneridge Stock Performance

Stoneridge stock traded down $0.16 during trading hours on Thursday, reaching $14.80. 183,721 shares of the company were exchanged, compared to its average volume of 99,653. Stoneridge has a 12 month low of $14.18 and a 12 month high of $24.51. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. The firm has a market cap of $409.52 million, a price-to-earnings ratio of -79.36 and a beta of 1.41. The stock has a 50-day moving average of $16.84 and a 200 day moving average of $17.31.

Analysts Set New Price Targets

Separately, StockNews.com cut Stoneridge from a “buy” rating to a “hold” rating in a research report on Friday, March 1st.

Insider Activity

In other news, Director Kim Korth sold 7,745 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $16.49, for a total value of $127,715.05. Following the completion of the sale, the director now directly owns 73,227 shares of the company’s stock, valued at $1,207,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

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.