Standard Motor Products, Inc. (SMP) Issues Earnings Results, Misses Expectations By $0.07 EPS
Standard Motor Products, Inc. (NYSE:SMP) released its earnings results on Thursday. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.07. Standard Motor Products had a return on equity of 15.04% and a net margin of 5.54%. The business earned $229.80 million during the quarter, compared to the consensus estimate of $233.29 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year.
Standard Motor Products (NYSE:SMP) opened at 49.68 on Friday. Standard Motor Products has a 1-year low of $29.69 and a 1-year high of $55.37. The firm has a 50-day moving average of $50.80 and a 200 day moving average of $48.49. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 19.95 and a beta of 1.81.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Monday, February 13th. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.17. Standard Motor Products’s dividend payout ratio is currently 30.52%.
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In other Standard Motor Products news, Director Peter J. Sills sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $51.01, for a total value of $765,150.00. Following the completion of the sale, the director now owns 376,001 shares in the company, valued at approximately $19,179,811.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.50% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, December 27th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Standard Motor Products currently has an average rating of “Buy” and a consensus price target of $49.75.
About Standard Motor Products
Standard Motor Products, Inc is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment.
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