Brokerages predict that Standard Motor Products, Inc. (NYSE:SMP) will post $341.51 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Standard Motor Products’ earnings. The lowest sales estimate is $339.31 million and the highest is $343.70 million. Standard Motor Products posted sales of $343.61 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.6%. The company is expected to issue its next quarterly earnings report on Wednesday, October 27th.
On average, analysts expect that Standard Motor Products will report full-year sales of $1.23 billion for the current financial year, with estimates ranging from $1.22 billion to $1.23 billion. For the next financial year, analysts expect that the business will report sales of $1.25 billion, with estimates ranging from $1.22 billion to $1.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Standard Motor Products.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, August 4th. The auto parts company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.60. Standard Motor Products had a net margin of 6.90% and a return on equity of 19.85%. The firm had revenue of $342.10 million during the quarter, compared to analysts’ expectations of $270.70 million. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 38.0% on a year-over-year basis.
Standard Motor Products stock traded up $0.18 during trading on Thursday, reaching $42.33. 700 shares of the company’s stock were exchanged, compared to its average volume of 140,587. The company’s 50-day moving average is $42.68 and its two-hundred day moving average is $43.78. Standard Motor Products has a 52-week low of $39.09 and a 52-week high of $55.29. The firm has a market cap of $940.61 million, a price-to-earnings ratio of 11.15 and a beta of 0.39.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Monday, August 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. Standard Motor Products’s dividend payout ratio (DPR) is presently 27.70%.
In related news, SVP Thomas Tesoro sold 1,500 shares of the stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $42.99, for a total transaction of $64,485.00. Following the sale, the senior vice president now owns 21,729 shares in the company, valued at $934,129.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter J. Sills sold 5,681 shares of the stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $43.48, for a total transaction of $247,009.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,756 shares of company stock worth $887,290. Company insiders own 6.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMP. BlackRock Inc. boosted its holdings in shares of Standard Motor Products by 4.0% in the first quarter. BlackRock Inc. now owns 3,329,211 shares of the auto parts company’s stock valued at $138,429,000 after acquiring an additional 126,701 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Standard Motor Products by 16.7% in the first quarter. Royce & Associates LP now owns 1,148,654 shares of the auto parts company’s stock valued at $47,761,000 after acquiring an additional 164,500 shares in the last quarter. Investment Counselors of Maryland LLC boosted its holdings in shares of Standard Motor Products by 37.4% in the first quarter. Investment Counselors of Maryland LLC now owns 963,412 shares of the auto parts company’s stock valued at $40,059,000 after acquiring an additional 262,059 shares in the last quarter. State Street Corp boosted its holdings in shares of Standard Motor Products by 2.1% in the second quarter. State Street Corp now owns 770,310 shares of the auto parts company’s stock valued at $33,393,000 after acquiring an additional 16,149 shares in the last quarter. Finally, Wasatch Advisors Inc. bought a new position in shares of Standard Motor Products in the second quarter valued at approximately $27,148,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.
About Standard Motor Products
Standard Motor Products, Inc engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management and Temperature Control. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.
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