Brokerages Anticipate Standard Motor Products, Inc. (NYSE:SMP) to Post $0.90 Earnings Per Share
Wall Street analysts expect Standard Motor Products, Inc. (NYSE:SMP) to announce earnings of $0.90 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Standard Motor Products’ earnings, with estimates ranging from $0.77 to $1.03. Standard Motor Products posted earnings per share of $0.92 during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.2%. The business is expected to report its next earnings results on Thursday, October 26th.
On average, analysts expect that Standard Motor Products will report full year earnings of $2.99 per share for the current fiscal year, with EPS estimates ranging from $2.68 to $3.30. For the next financial year, analysts forecast that the firm will report earnings of $3.40 per share, with EPS estimates ranging from $3.29 to $3.52. Zacks’ EPS averages are an average based on a survey of research analysts that follow Standard Motor Products.
Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by $0.18. The firm had revenue of $312.73 million for the quarter. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS.
Several analysts have issued reports on the company. BidaskClub cut Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $60.00 price objective on shares of Standard Motor Products in a research note on Wednesday. Finally, Zacks Investment Research cut Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Friday, August 4th.
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Standard Motor Products (SMP) opened at 45.32 on Friday. The company’s 50-day moving average price is $50.47 and its 200-day moving average price is $49.60. The stock has a market cap of $1.03 billion, a P/E ratio of 16.89 and a beta of 1.81. Standard Motor Products has a 1-year low of $42.11 and a 1-year high of $55.37.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, August 11th. Standard Motor Products’s payout ratio is currently 28.36%.
In other news, Director Frederick D. Sturdivant sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $50.75, for a total transaction of $101,500.00. Following the completion of the transaction, the director now directly owns 28,850 shares of the company’s stock, valued at $1,464,137.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter J. Sills sold 1,344 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $50.29, for a total value of $67,589.76. Following the transaction, the director now directly owns 360,713 shares of the company’s stock, valued at $18,140,256.77. The disclosure for this sale can be found here. Insiders have sold 32,750 shares of company stock worth $1,645,693 in the last 90 days. 6.60% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of SMP. Capital Fund Management S.A. bought a new position in Standard Motor Products during the first quarter valued at approximately $1,007,000. First Trust Advisors LP raised its position in Standard Motor Products by 5.9% in the first quarter. First Trust Advisors LP now owns 25,611 shares of the auto parts company’s stock valued at $1,259,000 after buying an additional 1,424 shares during the period. LSV Asset Management raised its position in Standard Motor Products by 15.1% in the first quarter. LSV Asset Management now owns 28,274 shares of the auto parts company’s stock valued at $1,389,000 after buying an additional 3,700 shares during the period. Great West Life Assurance Co. Can raised its position in Standard Motor Products by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 27,169 shares of the auto parts company’s stock valued at $1,333,000 after buying an additional 848 shares during the period. Finally, Wells Fargo & Company MN raised its position in Standard Motor Products by 12.9% in the first quarter. Wells Fargo & Company MN now owns 37,888 shares of the auto parts company’s stock valued at $1,862,000 after buying an additional 4,316 shares during the period. 77.83% of the stock is owned by institutional investors.
Standard Motor Products Company Profile
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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