Stoneridge (NYSE:SRI) Releases FY22 Earnings Guidance

Stoneridge (NYSE:SRIGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ($0.15)-0.10 for the period, compared to the consensus estimate of ($0.11). The company issued revenue guidance of $860-900 million, compared to the consensus revenue estimate of $860.19 million.

A number of brokerages recently issued reports on SRI. Zacks Investment Research lowered shares of Stoneridge from a hold rating to a sell rating in a research report on Wednesday. StockNews.com began coverage on shares of Stoneridge in a research report on Thursday, March 31st. They set a hold rating on the stock.

SRI stock traded down $0.40 on Friday, reaching $18.67. 104,445 shares of the company were exchanged, compared to its average volume of 109,286. Stoneridge has a 12 month low of $13.64 and a 12 month high of $34.22. The stock’s fifty day moving average price is $19.25 and its 200 day moving average price is $19.64. The firm has a market capitalization of $510.06 million, a PE ratio of -109.82 and a beta of 1.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.37 and a quick ratio of 1.58.

Stoneridge (NYSE:SRIGet Rating) last announced its earnings results on Wednesday, May 4th. The auto parts company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.07. Stoneridge had a negative net margin of 0.56% and a negative return on equity of 8.22%. The business had revenue of $221.00 million for the quarter, compared to analyst estimates of $194.78 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Stoneridge’s revenue was up 14.0% compared to the same quarter last year. As a group, research analysts expect that Stoneridge will post -0.11 EPS for the current fiscal year.

In other Stoneridge news, CEO Jonathan B. Degaynor purchased 12,560 shares of the firm’s stock in a transaction on Thursday, March 3rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $243,287.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Stoneridge by 25.4% in the 3rd quarter. Royal Bank of Canada now owns 4,936 shares of the auto parts company’s stock valued at $101,000 after purchasing an additional 1,000 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Stoneridge by 2.8% in the 4th quarter. California State Teachers Retirement System now owns 37,252 shares of the auto parts company’s stock valued at $735,000 after purchasing an additional 1,009 shares in the last quarter. Credit Suisse AG boosted its stake in shares of Stoneridge by 10.5% in the 4th quarter. Credit Suisse AG now owns 18,899 shares of the auto parts company’s stock valued at $373,000 after purchasing an additional 1,802 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Stoneridge by 41.4% in the 4th quarter. MetLife Investment Management LLC now owns 9,252 shares of the auto parts company’s stock valued at $183,000 after purchasing an additional 2,709 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Stoneridge by 6.9% in the 3rd quarter. Invesco Ltd. now owns 54,842 shares of the auto parts company’s stock valued at $1,118,000 after purchasing an additional 3,553 shares in the last quarter. Institutional investors own 99.95% of the company’s stock.

Stoneridge Company Profile (Get Rating)

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. It operates in three segments: Control Devices, Electronics, and Stoneridge Brazil.

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Earnings History and Estimates for Stoneridge (NYSE:SRI)

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