Equities research analysts forecast that Standard Motor Products, Inc. (NYSE:SMP) will report $229.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Standard Motor Products’ earnings, with the lowest sales estimate coming in at $227.50 million and the highest estimate coming in at $230.50 million. Standard Motor Products reported sales of $229.80 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.3%. The company is scheduled to report its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Standard Motor Products will report full year sales of $229.00 million for the current financial year, with estimates ranging from $1.10 billion to $1.11 billion. For the next year, analysts forecast that the company will post sales of $1.14 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Standard Motor Products.

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. FBR & Co reiterated a “hold” rating and issued a $48.00 price target on shares of Standard Motor Products in a research report on Friday, October 27th. Finally, B. Riley reiterated a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $54.00.

Several hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in Standard Motor Products during the second quarter valued at $227,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Standard Motor Products in the fourth quarter valued at $239,000. Suntrust Banks Inc. raised its stake in shares of Standard Motor Products by 1.1% in the second quarter. Suntrust Banks Inc. now owns 5,949 shares of the auto parts company’s stock valued at $310,000 after acquiring an additional 64 shares during the period. GSA Capital Partners LLP raised its stake in shares of Standard Motor Products by 29.0% in the second quarter. GSA Capital Partners LLP now owns 6,131 shares of the auto parts company’s stock valued at $320,000 after acquiring an additional 1,377 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Standard Motor Products in the third quarter valued at $309,000. 80.51% of the stock is currently owned by hedge funds and other institutional investors.

Standard Motor Products (NYSE:SMP) traded up $0.21 on Friday, hitting $47.15. 22,505 shares of the company’s stock were exchanged, compared to its average volume of 118,503. The company has a market capitalization of $1,064.64, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.40 and a beta of 1.82. Standard Motor Products has a fifty-two week low of $40.56 and a fifty-two week high of $54.73.

Standard Motor Products declared that its board has approved a stock repurchase program on Monday, November 20th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.19. Standard Motor Products’s payout ratio is 32.20%.

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About Standard Motor Products

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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