Standard Motor Products (NYSE:SMP) posted its quarterly earnings data on Tuesday. The auto parts company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.16, Briefing.com reports. Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The firm had revenue of $239.98 million for the quarter, compared to the consensus estimate of $226.15 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year.
Standard Motor Products (SMP) opened at $48.52 on Tuesday. The firm has a market capitalization of $1,090.20, a price-to-earnings ratio of 20.42, a PEG ratio of 2.46 and a beta of 1.82. Standard Motor Products has a 12 month low of $40.56 and a 12 month high of $54.73.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.19. Standard Motor Products’s dividend payout ratio is 35.59%.
Standard Motor Products declared that its board has authorized a share buyback plan on Monday, November 20th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several research firms have issued reports on SMP. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. FBR & Co reissued a “hold” rating and issued a $48.00 price target on shares of Standard Motor Products in a research note on Friday, October 27th. Finally, B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Standard Motor Products currently has an average rating of “Hold” and an average price target of $54.00.
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About Standard Motor Products
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.
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