Standard Motor Products, Inc. (SMP) Issues Quarterly Earnings Results

Standard Motor Products, Inc. (NYSE:SMP) released its earnings results on Thursday. The auto parts company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.12), RTT News reports. Standard Motor Products had a net margin of 4.97% and a return on equity of 13.68%. The company had revenue of $281.06 million during the quarter, compared to analyst estimates of $301.31 million. During the same period in the previous year, the company posted $0.92 EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year.

Standard Motor Products (NYSE SMP) opened at 45.35 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 16.90 and a beta of 1.80. The firm has a 50-day moving average price of $47.17 and a 200 day moving average price of $48.67. Standard Motor Products has a 1-year low of $43.29 and a 1-year high of $55.37.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, November 14th. Standard Motor Products’s payout ratio is 32.20%.

In other Standard Motor Products news, insider Peter J. Sills sold 2,500 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $47.14, for a total value of $117,850.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas Tesoro sold 3,950 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $47.91, for a total value of $189,244.50. Following the completion of the sale, the vice president now owns 29,026 shares in the company, valued at approximately $1,390,635.66. The disclosure for this sale can be found here. Insiders sold a total of 105,443 shares of company stock worth $4,744,091 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

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SMP has been the topic of several analyst reports. Zacks Investment Research lowered Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating on shares of Standard Motor Products in a research note on Friday, July 7th. ValuEngine lowered Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Finally, FBR & Co reissued a “hold” rating and issued a $48.00 target price on shares of Standard Motor Products in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Standard Motor Products currently has a consensus rating of “Hold” and an average target price of $54.00.

Standard Motor Products Company Profile

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.

Earnings History for Standard Motor Products (NYSE:SMP)

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