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

Key Points

• Stoneridge reported quarterly EPS of $0.06, missing the $0.07 consensus by $0.01, while revenue of $180 million exceeded estimates of $178.73 million.
• The company posted a negative return on equity of 24.91% and a negative net margin of 15.64%; shares fell $0.07 to $5.72 during Wednesday trading.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce.” CEO Natalia Noblet and CFO Scott Humphrey recently bought company shares.

Stoneridge (NYSE:SRI - Get Free Report) posted its earnings results on Wednesday. The auto parts company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01), FiscalAI reports. The firm had revenue of $180.00 million during the quarter, compared to the consensus estimate of $178.73 million. Stoneridge had a negative return on equity of 24.91% and a negative net margin of 15.64%.

Stoneridge Stock Performance

Shares of Stoneridge stock traded down $0.07 during trading hours on Wednesday, hitting $5.72. 178,113 shares of the company's stock traded hands, compared to its average volume of 206,159. Stoneridge has a 12-month low of $4.60 and a 12-month high of $9.71. The stock has a market capitalization of $163.16 million, a price-to-earnings ratio of -1.34 and a beta of 1.99. The company has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $6.90. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.89 and a quick ratio of 1.27.

Analyst Ratings Changes

SRI has been the topic of several analyst reports. Zacks Research upgraded shares of Stoneridge from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Stoneridge in a research report on Monday, September 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

Insider Transactions at Stoneridge

In related news, CFO Scott Humphrey acquired 6,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were acquired at an average price of $7.01 per share, with a total value of $42,060.00. Following the completion of the transaction, the chief financial officer owned 6,000 shares in the company, valued at approximately $42,060. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Natalia Noblet bought 5,000 shares of the company's stock in a transaction on Monday, August 10th. The stock was bought at an average price of $7.31 per share, for a total transaction of $36,550.00. Following the completion of the purchase, the chief executive officer owned 5,000 shares of the company's stock, valued at approximately $36,550. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is currently owned by insiders.

Stoneridge Company Profile

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.

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