Stoneridge (NYSE:SRI) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Stoneridge (NYSE:SRI) announced its quarterly earnings data on Wednesday. The auto parts company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01), FiscalAI reports. The business had revenue of $180.00 million during the quarter, compared to analysts’ expectations of $178.73 million. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%.

Stoneridge Stock Down 11.0%

Stoneridge stock traded down $0.63 during midday trading on Thursday, hitting $5.10. 623,673 shares of the company’s stock were exchanged, compared to its average volume of 207,980. The firm has a 50-day moving average of $6.58 and a two-hundred day moving average of $6.90. Stoneridge has a 12 month low of $4.60 and a 12 month high of $9.71. The company has a market cap of $145.45 million, a PE ratio of -1.19 and a beta of 1.99. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.27 and a current ratio of 1.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research upgraded Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Insider Buying and Selling

In other Stoneridge news, CEO Natalia Noblet acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $7.31 per share, with a total value of $36,550.00. Following the completion of the acquisition, the chief executive officer directly owned 5,000 shares in the company, valued at $36,550. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott Humphrey bought 6,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were bought at an average cost of $7.01 per share, for a total transaction of $42,060.00. Following the transaction, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $42,060. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is currently owned by company insiders.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global designer and manufacturer of highly engineered electrical and electronic systems for the automotive, commercial vehicle and off-highway vehicle markets. The company develops technologies intended to improve vehicle safety, efficiency, connectivity and the driver experience.

Its products include electronic instrument clusters and driver-information systems, vehicle controls and switches, sensors, wiring and connectivity solutions, telematics systems, and camera-based vision technologies.