Stoneridge (NYSE:SRI - Get Free Report) released its quarterly earnings data on Wednesday. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.05), Briefing.com reports. Stoneridge had a negative return on equity of 0.72% and a negative net margin of 0.53%. The firm had revenue of $239.20 million during the quarter, compared to analyst estimates of $223.20 million. During the same period last year, the business earned ($0.25) EPS. The firm's revenue was down .9% on a year-over-year basis. Stoneridge updated its FY 2024 guidance to 0.300-0.400 EPS.
Stoneridge Stock Performance
Shares of SRI stock traded down $0.16 during trading hours on Thursday, reaching $14.80. The stock had a trading volume of 183,721 shares, compared to its average volume of 99,653. The firm has a 50-day simple moving average of $16.77 and a 200-day simple moving average of $17.29. The firm has a market capitalization of $409.52 million, a PE ratio of -77.89 and a beta of 1.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.41 and a quick ratio of 1.36. Stoneridge has a twelve month low of $14.18 and a twelve month high of $24.51.
Insider Activity at Stoneridge
In related news, Director Kim Korth sold 7,745 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $16.49, for a total value of $127,715.05. Following the completion of the transaction, the director now owns 73,227 shares in the company, valued at approximately $1,207,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut shares of Stoneridge from a "buy" rating to a "hold" rating in a report on Friday, March 1st.
Read Our Latest Analysis on SRI
About Stoneridge
(
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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.
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