Zacks: Brokerages Anticipate Standard Motor Products, Inc. (NYSE:SMP) Will Post Earnings of $0.82 Per Share
Wall Street analysts expect Standard Motor Products, Inc. (NYSE:SMP) to report earnings of $0.82 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Standard Motor Products’ earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.80. Standard Motor Products posted earnings of $0.74 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 10.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, July 25th.
According to Zacks, analysts expect that Standard Motor Products will report full-year earnings of $2.94 per share for the current financial year, with EPS estimates ranging from $2.88 to $3.00. For the next year, analysts anticipate that the company will post earnings of $3.35 per share, with EPS estimates ranging from $3.15 to $3.54. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Standard Motor Products.
Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.57 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $283.80 million for the quarter, compared to analyst estimates of $278.13 million. During the same period in the prior year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis.
In other Standard Motor Products news, Chairman Lawrence I. Sills sold 2,215 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $46.42, for a total value of $102,820.30. Following the transaction, the chairman now directly owns 664,612 shares in the company, valued at approximately $30,851,289.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pamela Forbes Lieberman sold 4,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $49.23, for a total value of $196,920.00. Following the completion of the transaction, the director now owns 64,874 shares in the company, valued at $3,193,747.02. The disclosure for this sale can be found here. Insiders sold a total of 32,536 shares of company stock worth $1,494,933 over the last quarter. Corporate insiders own 6.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its holdings in Standard Motor Products by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,518 shares of the auto parts company’s stock worth $703,000 after acquiring an additional 319 shares in the last quarter. Kennedy Capital Management Inc. acquired a new stake in shares of Standard Motor Products during the first quarter worth $1,309,000. BlackRock Inc. raised 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 acquiring an additional 82,762 shares in the last quarter. Principal Financial Group Inc. raised its position in Standard Motor Products by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 163,905 shares of the auto parts company’s stock worth $7,938,000 after acquiring an additional 922 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Standard Motor Products in the fourth quarter worth $283,000. Hedge funds and other 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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