Standard Motor Products (SMP) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS
Standard Motor Products (NYSE:SMP) announced its quarterly earnings data on Tuesday. The auto parts company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.38 by $0.16, Briefing.com reports. The firm had revenue of $239.98 million for the quarter, compared to analyst estimates of $229.00 million. Standard Motor Products had a return on equity of 14.06% and a net margin of 3.40%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS.
Shares of Standard Motor Products (NYSE SMP) traded down $0.94 during trading on Thursday, hitting $49.61. The stock had a trading volume of 13,883 shares, compared to its average volume of 120,657. Standard Motor Products has a 12-month low of $40.56 and a 12-month high of $54.73. The company has a market cap of $1,156.69, a price-to-earnings ratio of 31.20, a PEG ratio of 2.61 and a beta of 1.82.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. Standard Motor Products’s dividend payout ratio is 51.85%.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Standard Motor Products from a “hold” rating to a “sell” rating in a research report on Tuesday. FBR & Co reiterated a “hold” rating and set a $48.00 price objective 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.00.
Standard Motor Products declared that its Board of Directors has approved a stock repurchase plan on Monday, November 20th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
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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