Stoneridge (SRI) Releases Earnings Results, Beats Expectations By $0.09 EPS

Stoneridge (SRI) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.32. The company posted revenue of $186.90 million in the period, compared to analysts expectations of $180.37 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Stoneridge. Stoneridge was Downgraded by Sidoti to ” Neutral” on May 31, 2016.

Stoneridge closed down -0.01 points or -0.06% at $16.68 with 2,11,255 shares getting traded on Friday. Post opening the session at $16.56, the shares hit an intraday low of $16.52 and an intraday high of $16.77 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 14, 2016, Peter Kruk (President of Electronics) sold 4,905 shares at $13.17 per share price. According to the SEC, on Nov 12, 2015, George S Jr Mayes (director) purchased 500 shares at $13.55 per share price. On Oct 1, 2015, Ira C. Kaplan (director) sold 4,100 shares at $12.41 per share price, according to the Form-4 filing with the securities and exchange commission.

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 in 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. The Company’s Electronics segment designs and manufactures electronic instrument clusters electronic control units and driver information systems. The Company’s PST segment is engaged in the design manufacture and sale of electronic vehicle security alarms convenience accessories vehicle tracking devices and monitoring services and in-vehicle audio and video devices. The Company’s operations including its joint ventures cover more than 25 locations in 12 countries.


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