Standard Motor Products, Inc. (SMP) Expected to Announce Quarterly Sales of $303.69 Million
Equities analysts predict that Standard Motor Products, Inc. (NYSE:SMP) will announce $303.69 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Standard Motor Products’ earnings. The highest sales estimate is $308.58 million and the lowest is $298.80 million. Standard Motor Products reported sales of $286.64 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The company is expected to report its next earnings results on Thursday, July 25th.
On average, analysts expect that Standard Motor Products will report full-year sales of $1.16 billion for the current financial year, with estimates ranging from $1.14 billion to $1.17 billion. For the next financial year, analysts anticipate that the company will report sales of $1.20 billion, with estimates ranging from $1.18 billion to $1.22 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Standard Motor Products.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.03). The company had revenue of $283.80 million during the quarter, compared to analyst estimates of $278.13 million. Standard Motor Products had a return on equity of 13.02% and a net margin of 4.24%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS.
Shares of Standard Motor Products stock traded up $0.82 during midday trading on Wednesday, hitting $43.20. The company had a trading volume of 80,152 shares, compared to its average volume of 78,944. The company has a market cap of $947.48 million, a price-to-earnings ratio of 16.94, a PEG ratio of 1.31 and a beta of 1.11. The company has a current ratio of 1.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.06. Standard Motor Products has a 1-year low of $42.03 and a 1-year high of $56.54.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.92 annualized dividend and a dividend yield of 2.13%. Standard Motor Products’s payout ratio is 36.08%.
In other news, VP Thomas Tesoro sold 1,851 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $48.00, for a total value of $88,848.00. Following the sale, the vice president now owns 31,121 shares in the company, valued at $1,493,808. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lawrence I. Sills sold 13,713 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $45.60, for a total value of $625,312.80. Following the completion of the transaction, the insider now directly owns 664,612 shares of the company’s stock, valued at $30,306,307.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,536 shares of company stock worth $1,185,183. 6.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Standard Motor Products by 1.3% in the first quarter. BlackRock Inc. now owns 3,039,339 shares of the auto parts company’s stock worth $149,231,000 after purchasing an additional 38,695 shares during the period. Vanguard Group Inc. lifted its position in Standard Motor Products by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,154,030 shares of the auto parts company’s stock worth $56,801,000 after purchasing an additional 18,702 shares during the period. Macquarie Group Ltd. lifted its position in Standard Motor Products by 1.2% in the first quarter. Macquarie Group Ltd. now owns 422,229 shares of the auto parts company’s stock worth $20,731,000 after purchasing an additional 4,963 shares during the period. Tributary Capital Management LLC lifted its position in Standard Motor Products by 62.2% in the first quarter. Tributary Capital Management LLC now owns 368,583 shares of the auto parts company’s stock worth $18,097,000 after purchasing an additional 141,343 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Standard Motor Products by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 366,154 shares of the auto parts company’s stock worth $17,978,000 after purchasing an additional 13,538 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.
About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.
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