Stoneridge (NYSE:SRI) Announces Earnings Results

Key Points

• Big earnings miss: Stoneridge reported Q EPS of ($0.53) vs. a $0.02 consensus and revenue of $205.2M vs. $211.7M, producing a negative net margin of 3.66% and ROE of -8.78%.
• Shares tumbled about 27.7% to $5.54 on heavy volume after the release, leaving a market cap around $155M and a negative P/E.
• Analyst views are mixed with a MarketBeat consensus of "Hold" and an average target of $16, while Weiss Ratings reaffirmed a "sell (d-)," and institutional investors own roughly 98% of the stock.

Stoneridge (NYSE:SRI - Get Free Report) posted its earnings results on Wednesday. The auto parts company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.55), FiscalAI reports. Stoneridge had a negative net margin of 3.66% and a negative return on equity of 8.78%. The firm had revenue of $205.15 million during the quarter, compared to the consensus estimate of $211.70 million.

Stoneridge Trading Down 27.7%

Shares of NYSE:SRI traded down $2.12 during mid-day trading on Thursday, reaching $5.54. 275,129 shares of the company's stock were exchanged, compared to its average volume of 177,671. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 2.13. Stoneridge has a twelve month low of $3.54 and a twelve month high of $9.71. The firm has a market capitalization of $155.29 million, a price-to-earnings ratio of -4.79 and a beta of 1.45. The business's fifty day moving average price is $7.26 and its 200-day moving average price is $6.98.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Stoneridge in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $16.00.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of Stoneridge in the fourth quarter worth approximately $140,000. Empowered Funds LLC bought a new stake in Stoneridge in the fourth quarter valued at approximately $131,000. Public Employees Retirement System of Ohio acquired a new stake in Stoneridge during the 3rd quarter valued at approximately $110,000. State of Wyoming acquired a new stake in Stoneridge during the 2nd quarter valued at approximately $180,000. Finally, Tower Research Capital LLC TRC raised its holdings in Stoneridge by 211.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,485 shares of the auto parts company's stock worth $95,000 after purchasing an additional 9,149 shares during the last quarter. Institutional investors own 98.07% of the company's stock.

Stoneridge Company Profile

Stoneridge, Inc NYSE: SRI is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company's product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge's core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.

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