Stoneridge, Inc. (NYSE:SRI) – Equities researchers at Barrington Research dropped their FY2018 earnings estimates for shares of Stoneridge in a note issued to investors on Monday, October 29th. Barrington Research analyst G. Prestopino now expects that the auto parts company will post earnings per share of $2.00 for the year, down from their previous forecast of $2.05. Barrington Research has a “Buy” rating and a $50.00 price target on the stock. Barrington Research also issued estimates for Stoneridge’s Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.58 EPS and FY2019 earnings at $2.12 EPS.
Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Stoneridge had a net margin of 7.09% and a return on equity of 22.11%. The business had revenue of $208.90 million during the quarter, compared to analysts’ expectations of $204.36 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Stoneridge’s revenue was up 2.6% compared to the same quarter last year.
SRI opened at $25.41 on Wednesday. Stoneridge has a twelve month low of $20.63 and a twelve month high of $37.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.13 and a quick ratio of 1.59. The stock has a market cap of $642.61 million, a P/E ratio of 16.23, a PEG ratio of 1.44 and a beta of 1.06.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Stoneridge by 5.2% in the second quarter. BlackRock Inc. now owns 2,116,009 shares of the auto parts company’s stock worth $74,355,000 after acquiring an additional 105,480 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Stoneridge by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,966,938 shares of the auto parts company’s stock worth $69,119,000 after acquiring an additional 18,458 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Stoneridge by 145.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,168,404 shares of the auto parts company’s stock worth $34,725,000 after acquiring an additional 692,760 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Stoneridge by 13.1% in the second quarter. Renaissance Technologies LLC now owns 831,200 shares of the auto parts company’s stock worth $29,208,000 after acquiring an additional 96,400 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Stoneridge by 73.0% in the second quarter. Acadian Asset Management LLC now owns 772,025 shares of the auto parts company’s stock worth $27,129,000 after acquiring an additional 325,870 shares during the last quarter. 89.74% of the stock is owned by institutional investors and hedge funds.
Stoneridge Company Profile
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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