$ 1.07 earnings per share expected for Standard Motor Products, Inc. (NYSE: SMP) this quarter
Brokerages expect Standard Motor Products, Inc. (NYSE: SMP) to report earnings of $ 1.07 per share for the current quarter, according to Zack. Two analysts provided earnings estimates for Standard Motor Products, with the lowest EPS estimate being $ 1.06 and the highest estimate being $ 1.07. Standard Motor Products reported earnings of $ 1.59 per share for the same quarter last year, which would suggest a negative year-over-year growth rate of 32.7%. The company is expected to report its next quarterly results on Wednesday, October 27.
According to Zacks, analysts expect Standard Motor Products to report annual earnings of $ 3.89 per share for the current year, with EPS estimates ranging from $ 3.86 to $ 3.91. For the next fiscal year, analysts predict the company will post earnings of $ 4.10 per share, with EPS estimates ranging from $ 3.90 to $ 4.24. Zacks EPS calculations are an average based on a survey of research analysts who cover standard engine products.
Standard Motor Products (NYSE: SMP) last reported quarterly results on Wednesday, August 4. The auto parts company reported earnings per share of $ 1.26 for the quarter, beating the consensus estimate of $ 0.66 by Thomson Reuters by $ 0.60. Standard Motor Products recorded a return on equity of 19.85% and a net margin of 6.90%. The company posted revenue of $ 342.10 million for the quarter, against analysts’ expectations of $ 270.70 million. During the same period of the previous year, the company reported earnings per share of $ 0.52. The company’s revenue increased 38.0% year-over-year.
Several research analysts recently commented on the company. TheStreet upgraded Standard Motor Products from a “c +” rating to a “b-” rating in a report released on Friday, October 8. Zacks investment research downgraded Standard Motor Products from a “buy” rating to a “keep” rating and set a price target of $ 44.00 for the company. in a report on Tuesday August 3.
NYSE SMP shares traded down $ 0.40 on Friday at noon, reaching $ 46.99. 46,390 shares of the company were traded, for an average volume of 134,157. Standard Motor Products has a 12-month low of $ 39.09 and a 12-month high of $ 55.29. The company has a market cap of $ 1.04 billion, a price-to-earnings ratio of 12.43 and a beta of 0.39. The company’s fifty-day moving average price is $ 43.80 and its two hundred-day moving average price is $ 44.02.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1. Shareholders of record on Monday August 16 received a dividend of $ 0.25 per share. This represents an annualized dividend of $ 1.00 and a dividend yield of 2.13%. The ex-dividend date was Friday August 13. Standard Motor Products’ payout ratio is 27.70%.
In other Standard Motor Products news, SVP Thomas Tesoro sold 1,500 shares of the company in a trade that took place on Friday August 6. The stock was sold for an average price of $ 42.99, for a total value of $ 64,485.00. After the sale is finalized, the senior vice president now owns 21,729 shares of the company, valued at $ 934,129.71. The sale was disclosed in a legal file with the SEC, which can be accessed through this link. In addition, director Peter J. Sills sold 2,841 shares of the company in a transaction that took place on Monday August 16. The stock was sold for an average price of $ 43.48, for a total value of $ 123,526.68. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 31,862 shares of the company valued at $ 1,416,792. 6.60% of the capital is held by insiders.
Several large investors have recently increased or reduced their holdings in SMP. Russell Investments Group Ltd. increased its stake in Standard Motor Products shares by 229.6% in the first quarter. Russell Investments Group Ltd. now owns 50,686 shares of the auto parts company valued at $ 2,106,000 after purchasing an additional 35,310 shares during the period. UBS Group AG increased its stake in the shares of Standard Motor Products by 2.7% in the first quarter. UBS Group AG now owns 92,610 shares of the auto parts company valued at $ 3,851,000 after purchasing 2,445 additional shares during the period. JPMorgan Chase & Co. increased its stake in Standard Motor Products shares by 119.0% during the first quarter. JPMorgan Chase & Co. now owns 100,659 shares of the auto parts company valued at $ 4,186,000 after purchasing an additional 54,694 shares during the period. Prudential Financial Inc. increased its stake in Standard Motor Products shares by 29.9% during the first quarter. Prudential Financial Inc. now owns 53,065 shares of the auto parts company valued at $ 2,207,000 after purchasing an additional 12,228 shares during the period. Finally, Geode Capital Management LLC increased its stake in Standard Motor Products shares by 11.7% during the first quarter. Geode Capital Management LLC now owns 343,554 shares of the auto parts company valued at $ 14,284,000 after acquiring 36,013 additional shares in the last quarter. 76.82% of the shares are held by hedge funds and other institutional investors.
About standard motor products
Standard Motor Products, Inc. engages in the manufacture, distribution and market of automotive aftermarket parts in the automotive aftermarket industry. It operates through the following segments: engine management and temperature control. The Engine Management segment produces and rebuilds ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.
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