Stoneridge (NYSE:SRI) Releases FY24 Earnings Guidance

Stoneridge (NYSE:SRI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ($0.40)-($0.35) for the period, compared to the consensus 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.

Stoneridge Price Performance

Shares of NYSE:SRI traded down $0.10 on Friday, hitting $6.89. The stock had a trading volume of 457,764 shares, compared to its average volume of 278,142. The company has a market capitalization of $190.78 million, a price-to-earnings ratio of -25.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.31 and a current ratio of 2.44. The firm’s 50 day moving average price is $11.15 and its 200-day moving average price is $14.05. Stoneridge has a twelve month low of $6.76 and a twelve month high of $19.91.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.32). The firm had revenue of $213.80 million for the quarter, compared to the consensus estimate of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. Stoneridge’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. On average, equities research analysts predict that Stoneridge will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.