Stoneridge, Inc. (NYSE:SRI) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $1.48-1.54 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.46. The company issued revenue guidance of $810-825 million, compared to the consensus revenue estimate of $804.00 million.
SRI has been the topic of a number of research reports. Zacks Investment Research upgraded Stoneridge from a strong sell rating to a hold rating in a report on Tuesday, July 11th. BidaskClub lowered Stoneridge from a sell rating to a strong sell rating in a report on Friday, August 4th. Finally, KeyCorp restated a hold rating on shares of Stoneridge in a report on Sunday, October 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $19.50.
Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, October 25th. The auto parts company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The firm had revenue of $203.60 million for the quarter, compared to the consensus estimate of $192.80 million. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share.
In other news, VP Michael D. Sloan sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.30, for a total value of $489,000.00. Following the transaction, the vice president now directly owns 34,223 shares in the company, valued at approximately $557,834.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $16.51, for a total value of $121,480.58. Following the completion of the transaction, the insider now owns 37,281 shares in the company, valued at $615,509.31. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
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Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.
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