Standard Motor Products, Inc. (NYSE:SMP) – Stock analysts at B. Riley cut their Q1 2018 earnings per share (EPS) estimates for Standard Motor Products in a research report issued to clients and investors on Wednesday. B. Riley analyst C. Horn now expects that the auto parts company will post earnings per share of $0.69 for the quarter, down from their previous forecast of $0.70. B. Riley currently has a “Neutral” rating on the stock. B. Riley also issued estimates for Standard Motor Products’ Q2 2018 earnings at $1.07 EPS, Q3 2018 earnings at $1.10 EPS, Q4 2018 earnings at $0.66 EPS, FY2018 earnings at $3.51 EPS, Q1 2019 earnings at $0.85 EPS, Q2 2019 earnings at $1.17 EPS, Q3 2019 earnings at $1.13 EPS and FY2019 earnings at $3.83 EPS.
Standard Motor Products (NYSE:SMP) last released its earnings results on Tuesday, February 20th. The auto parts company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.16. Standard Motor Products had a return on equity of 14.06% and a net margin of 3.40%. The company had revenue of $239.98 million for the quarter, compared to analysts’ expectations of $229.00 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday. FBR & Co reiterated a “hold” rating and set a $48.00 target price on shares of Standard Motor Products in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $55.00.
Standard Motor Products (NYSE:SMP) opened at $49.19 on Thursday. Standard Motor Products has a 52-week low of $40.56 and a 52-week high of $54.73. The stock has a market capitalization of $1,156.69, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 2.61 and a beta of 1.82.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.21 per share. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, February 14th. This represents a $0.84 annualized dividend and a yield of 1.71%. Standard Motor Products’s payout ratio is presently 51.85%.
Standard Motor Products announced that its board has authorized a share repurchase program on Monday, November 20th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMP. Boston Partners acquired a new position in Standard Motor Products during the 4th quarter worth approximately $13,428,000. Schroder Investment Management Group acquired a new stake in shares of Standard Motor Products in the 4th quarter worth approximately $10,722,000. Shell Asset Management Co. acquired a new stake in shares of Standard Motor Products in the 3rd quarter worth approximately $2,593,000. Macquarie Group Ltd. grew its holdings in shares of Standard Motor Products by 13.4% in the 3rd quarter. Macquarie Group Ltd. now owns 578,293 shares of the auto parts company’s stock worth $27,903,000 after acquiring an additional 68,130 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Standard Motor Products by 2.6% in the 4th quarter. BlackRock Inc. now owns 2,623,798 shares of the auto parts company’s stock worth $117,834,000 after acquiring an additional 65,424 shares during the period. Institutional investors own 80.61% of the company’s stock.
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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.
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