Stoneridge (NYSE:SRI) Releases FY 2024 Earnings Guidance

Stoneridge (NYSE:SRI) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.400–0.350 for the period, compared to the consensus EPS estimate of 0.200. The company issued revenue guidance of $895.0 million-$905.0 million, compared to the consensus revenue estimate of $944.9 million. Stoneridge also updated its FY24 guidance to ($0.40)-($0.35) EPS.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research note on Thursday. Finally, Stephens assumed coverage on shares of Stoneridge in a report on Monday, July 8th. They issued an “overweight” rating for the company.

Stoneridge Trading Down 24.7 %

Shares of NYSE:SRI opened at $6.99 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.27 and a quick ratio of 1.31. Stoneridge has a 12 month low of $6.76 and a 12 month high of $19.91. The stock’s 50 day moving average price is $11.30 and its 200 day moving average price is $14.11.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm had revenue of $213.80 million during the quarter, compared to the consensus estimate of $229.60 million. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Stoneridge will post 0.13 EPS for the current fiscal year.

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.