Stoneridge (NYSE:SRI) Issues FY 2024 Earnings Guidance

by · The Cerbat Gem

Stoneridge (NYSE:SRI – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.400–0.350 for the period, compared to the consensus earnings per share estimate of 0.200. The company issued revenue guidance of $895.0 million-$905.0 million, compared to the consensus revenue estimate of $944.9 million.

Wall Street Analysts Forecast Growth

SRI has been the subject of several research reports. StockNews.com upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Stephens started coverage on Stoneridge in a report on Monday, July 8th. They issued an “overweight” rating for the company.

Get Our Latest Report on Stoneridge

Stoneridge Price Performance

NYSE SRI traded down $0.17 on Wednesday, reaching $9.28. 205,414 shares of the company’s stock traded hands, compared to its average volume of 147,146. The stock has a market cap of $256.87 million, a PE ratio of 134.86 and a beta of 1.31. 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 12 month low of $8.94 and a 12 month high of $19.91. The stock has a 50-day simple moving average of $11.51 and a 200 day simple moving average of $14.19.

Stoneridge (NYSE:SRI – Get Free Report) last released its earnings results on Wednesday, July 31st. The auto parts company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.19. Stoneridge had a net margin of 0.19% and a return on equity of 3.03%. The company had revenue of $237.10 million for the quarter, compared to analyst estimates of $242.90 million. During the same quarter last year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. As a group, research analysts predict that Stoneridge will post 0.13 earnings per share for the current year.

Stoneridge Company Profile

(Get Free Report)

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.

Read More