Stoneridge (NYSE:SRI) Issues FY24 Earnings Guidance

Stoneridge (NYSE:SRI) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of ($0.40)-($0.35) for the period, compared to the consensus EPS estimate of $0.20. The company issued revenue guidance of $895-$905 million, compared to the consensus revenue estimate of $944.94 million. Stoneridge also updated its FY 2024 guidance to -0.400–0.350 EPS.

Wall Street Analysts Forecast Growth

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

Stoneridge Trading Down 1.4 %

NYSE:SRI traded down $0.10 during trading hours on Friday, reaching $6.89. 457,764 shares of the company were exchanged, compared to its average volume of 278,142. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.31. The firm has a market cap of $190.78 million, a price-to-earnings ratio of -25.52 and a beta of 1.36. Stoneridge has a 52-week low of $6.76 and a 52-week high of $19.91. The stock has a 50 day simple moving average of $11.15 and a 200 day simple moving average of $14.05.

Stoneridge (NYSE:SRI) last issued its earnings results 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 net margin of 0.81% and a negative return on equity of 0.42%. The business had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. During the same period in the prior year, the business posted $0.10 EPS. The business’s revenue was down 10.2% on a year-over-year basis. As a group, analysts predict that Stoneridge will post -0.38 EPS for the current year.

About Stoneridge

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.