Stoneridge (SRI) to Release Quarterly Earnings on Wednesday

Stoneridge (NYSE:SRI) will announce its earnings results after the market closes on Wednesday, May 1st. Stoneridge has set its FY 2024 guidance at 0.300-0.400 EPS and its FY24 guidance at $0.30-0.40 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, February 28th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $229.50 million during the quarter, compared to the consensus estimate of $234.20 million. Stoneridge had a negative net margin of 0.53% and a negative return on equity of 0.72%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, analysts expect Stoneridge to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Stoneridge Price Performance

NYSE SRI opened at $15.78 on Monday. The company has a fifty day moving average of $17.03 and a 200 day moving average of $17.36. Stoneridge has a 1 year low of $14.18 and a 1 year high of $24.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 2.41.

Insider Activity at Stoneridge

In related news, Director Kim Korth sold 7,745 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $16.49, for a total transaction of $127,715.05. Following the completion of the transaction, the director now directly owns 73,227 shares in the company, valued at $1,207,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Stoneridge Company Profile

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.