Wall Street analysts forecast that Standard Motor Products, Inc. (NYSE:SMP) will post $341.51 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Standard Motor Products’ earnings. The lowest sales estimate is $339.31 million and the highest is $343.70 million. Standard Motor Products posted sales of $343.61 million during the same quarter last year, which suggests a negative year over year growth rate of 0.6%. The company is expected to issue its next quarterly earnings report on Wednesday, October 27th.
On average, analysts expect that Standard Motor Products will report full year sales of $1.23 billion for the current year, with estimates ranging from $1.22 billion to $1.23 billion. For the next fiscal year, analysts expect that the business will report sales of $1.25 billion, with estimates ranging from $1.22 billion to $1.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Standard Motor Products.
Standard Motor Products (NYSE:SMP) last issued its earnings results on Wednesday, August 4th. The auto parts company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.60. The firm had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $270.70 million. Standard Motor Products had a return on equity of 19.85% and a net margin of 6.90%. The company’s revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share.
Shares of NYSE:SMP traded up $0.54 during trading on Wednesday, reaching $47.58. 82,301 shares of the company traded hands, compared to its average volume of 136,269. Standard Motor Products has a 52 week low of $39.09 and a 52 week high of $55.29. The firm has a market capitalization of $1.06 billion, a PE ratio of 12.44 and a beta of 0.39. The company’s 50 day moving average is $43.42 and its two-hundred day moving average is $43.88.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, August 16th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 13th. This represents a $1.00 annualized dividend and a yield of 2.10%. Standard Motor Products’s dividend payout ratio is currently 27.70%.
In other news, Director Peter J. Sills sold 2,841 shares of the firm’s stock in a transaction that occurred on Thursday, September 16th. The stock was sold at an average price of $40.84, for a total value of $116,026.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Eric Sills sold 1,996 shares of Standard Motor Products stock in a transaction on Tuesday, October 12th. The stock was sold at an average price of $46.76, for a total value of $93,332.96. The disclosure for this sale can be found here. Insiders have sold 34,702 shares of company stock valued at $1,529,508 in the last ninety days. 6.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SMP. Wasatch Advisors Inc. bought a new stake in Standard Motor Products during the second quarter valued at $27,148,000. Investment Counselors of Maryland LLC grew its holdings in shares of Standard Motor Products by 37.4% during the 1st quarter. Investment Counselors of Maryland LLC now owns 963,412 shares of the auto parts company’s stock worth $40,059,000 after acquiring an additional 262,059 shares during the period. Millennium Management LLC purchased a new position in shares of Standard Motor Products during the 1st quarter worth approximately $7,559,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Standard Motor Products by 95.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 283,066 shares of the auto parts company’s stock worth $11,770,000 after buying an additional 138,204 shares during the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Standard Motor Products by 286.9% in the 1st quarter. Citadel Advisors LLC now owns 185,651 shares of the auto parts company’s stock worth $7,719,000 after buying an additional 137,671 shares during the last quarter. Institutional investors own 76.82% of the company’s stock.
About Standard Motor Products
Standard Motor Products, Inc engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management and Temperature Control. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.
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