Zacks: Analysts Anticipate Standard Motor Products, Inc. (NYSE:SMP) Will Post Earnings of $0.82 Per Share
Equities analysts predict that Standard Motor Products, Inc. (NYSE:SMP) will report earnings per share of $0.82 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Standard Motor Products’ earnings. The highest EPS estimate is $0.84 and the lowest is $0.80. Standard Motor Products posted earnings per share of $0.74 during the same quarter last year, which would indicate a positive year over year growth rate of 10.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, July 25th.
On average, analysts expect that Standard Motor Products will report full-year earnings of $2.94 per share for the current year, with EPS estimates ranging from $2.88 to $3.00. For the next fiscal year, analysts expect that the firm will report earnings of $3.35 per share, with EPS estimates ranging from $3.15 to $3.54. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Standard Motor Products.
Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.03). Standard Motor Products had a net margin of 4.24% and a return on equity of 13.02%. The firm had revenue of $283.80 million during the quarter, compared to analysts’ expectations of $278.13 million. During the same quarter in the prior year, the firm posted $0.46 EPS. Standard Motor Products’s quarterly revenue was up 8.4% compared to the same quarter last year.
In other Standard Motor Products news, Chairman Lawrence I. Sills sold 2,215 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $46.42, for a total transaction of $102,820.30. Following the transaction, the chairman now owns 664,612 shares in the company, valued at $30,851,289.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas Tesoro sold 1,851 shares of Standard Motor Products stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $48.00, for a total value of $88,848.00. Following the sale, the vice president now directly owns 31,121 shares in the company, valued at $1,493,808. The disclosure for this sale can be found here. Insiders sold a total of 32,536 shares of company stock valued at $1,494,933 over the last ninety days. 6.60% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund bought a new stake in Standard Motor Products during the fourth quarter valued at approximately $372,000. PNC Financial Services Group Inc. boosted its position in shares of Standard Motor Products by 14.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,581 shares of the auto parts company’s stock valued at $125,000 after acquiring an additional 323 shares during the last quarter. BlackRock Inc. lifted its position in Standard Motor Products by 2.8% in the fourth quarter. BlackRock Inc. now owns 3,000,644 shares of the auto parts company’s stock worth $145,320,000 after buying an additional 82,762 shares during the last quarter. Texas Permanent School Fund lifted its position in Standard Motor Products by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 13,211 shares of the auto parts company’s stock worth $640,000 after buying an additional 510 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in Standard Motor Products by 21.4% in the fourth quarter. Advisor Group Inc. now owns 3,274 shares of the auto parts company’s stock worth $159,000 after buying an additional 578 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.
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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