Stoneridge, Inc. (NYSE:SRI – Get Rating) – Barrington Research upped their Q3 2022 earnings estimates for Stoneridge in a research note issued to investors on Tuesday, May 10th. Barrington Research analyst G. Prestopino now anticipates that the auto parts company will earn $0.12 per share for the quarter, up from their previous forecast of $0.11. Barrington Research also issued estimates for Stoneridge’s Q4 2022 earnings at $0.24 EPS and Q4 2023 earnings at $0.35 EPS.
Stoneridge (NYSE:SRI – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The auto parts company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.07. The business had revenue of $221.00 million for the quarter, compared to analysts’ expectations of $194.78 million. Stoneridge had a negative net margin of 0.56% and a negative return on equity of 8.28%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share.
Shares of Stoneridge stock opened at $16.19 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $442.23 million, a P/E ratio of -95.24 and a beta of 1.25. The business has a fifty day simple moving average of $19.07 and a two-hundred day simple moving average of $19.53. Stoneridge has a 12 month low of $13.64 and a 12 month high of $33.42.
In other news, CEO Jonathan B. Degaynor acquired 12,560 shares of the stock in a transaction on Thursday, March 3rd. The stock was acquired at an average price of $19.37 per share, with a total value of $243,287.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SRI. PNC Financial Services Group Inc. raised its position in shares of Stoneridge by 90.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,900 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 900 shares during the last quarter. US Bancorp DE raised its position in shares of Stoneridge by 138.3% in the 1st quarter. US Bancorp DE now owns 2,342 shares of the auto parts company’s stock worth $48,000 after purchasing an additional 1,359 shares during the last quarter. Royal Bank of Canada raised its position 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 worth $101,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Stoneridge by 609.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,307 shares of the auto parts company’s stock worth $105,000 after purchasing an additional 4,559 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Stoneridge by 145.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,840 shares of the auto parts company’s stock worth $139,000 after buying an additional 4,055 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.
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.
- Get a free copy of the StockNews.com research report on Stoneridge (SRI)
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