B. Riley Weighs in on Stoneridge, Inc.’s Q1 2018 Earnings (SRI)

Stoneridge, Inc. (NYSE:SRI) – Equities researchers at B. Riley issued their Q1 2018 earnings estimates for Stoneridge in a research report issued on Tuesday. B. Riley analyst C. Horn expects that the auto parts company will post earnings of $0.50 per share for the quarter. B. Riley has a “Neutral” rating and a $24.00 price objective on the stock. B. Riley also issued estimates for Stoneridge’s Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.49 EPS, FY2018 earnings at $2.01 EPS and FY2019 earnings at $2.16 EPS.

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Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, February 28th. The auto parts company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. Stoneridge had a net margin of 5.48% and a return on equity of 21.09%. The firm had revenue of $207.40 million for the quarter, compared to the consensus estimate of $206.50 million. During the same period in the prior year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis.

Several other equities research analysts also recently weighed in on SRI. Zacks Investment Research downgraded shares of Stoneridge from a “strong-buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research note on Wednesday, January 10th. KeyCorp reaffirmed a “hold” rating on shares of Stoneridge in a research note on Friday, November 17th. Finally, ValuEngine raised shares of Stoneridge from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a strong buy rating to the company. Stoneridge presently has an average rating of “Buy” and an average price target of $25.50.

Shares of Stoneridge (NYSE SRI) opened at $25.30 on Thursday. Stoneridge has a 52 week low of $14.16 and a 52 week high of $26.47. The firm has a market cap of $712.73, a P/E ratio of 16.11 and a beta of 1.37. The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58.

A number of hedge funds and other institutional investors have recently bought and sold shares of SRI. Pembroke Management LTD acquired a new position in Stoneridge during the 4th quarter worth approximately $7,226,000. Driehaus Capital Management LLC acquired a new position in Stoneridge during the 4th quarter worth approximately $5,765,000. TIAA CREF Investment Management LLC grew its holdings in Stoneridge by 155.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 294,305 shares of the auto parts company’s stock worth $6,728,000 after acquiring an additional 178,989 shares in the last quarter. EAM Investors LLC acquired a new position in Stoneridge during the 4th quarter worth approximately $2,389,000. Finally, Bank of Montreal Can grew its holdings in Stoneridge by 111,050.6% during the 4th quarter. Bank of Montreal Can now owns 98,924 shares of the auto parts company’s stock worth $2,262,000 after acquiring an additional 98,835 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

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Stoneridge Company Profile

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.

Earnings History and Estimates for Stoneridge (NYSE:SRI)

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