Wall Street analysts expect that Standard Motor Products (NYSE:SMP) will report sales of $280.37 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Standard Motor Products’ earnings, with the lowest sales estimate coming in at $279.40 million and the highest estimate coming in at $281.34 million. Standard Motor Products reported sales of $282.38 million during the same quarter last year, which indicates a negative year over year growth rate of 0.7%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that Standard Motor Products will report full-year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.13 billion to $1.15 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.18 billion per share, with estimates ranging from $1.16 billion to $1.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Standard Motor Products.
Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Tuesday, February 20th. The auto parts company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.38 by $0.16. The company had revenue of $239.98 million during the quarter. Standard Motor Products had a return on equity of 14.15% and a net margin of 3.40%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS.
Several analysts have commented on SMP shares. Zacks Investment Research upgraded Standard Motor Products from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $55.00.
SMP traded down $0.03 during midday trading on Friday, hitting $46.80. The company’s stock had a trading volume of 6,033 shares, compared to its average volume of 115,146. The stock has a market capitalization of $1,086.68, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.34 and a beta of 1.67. Standard Motor Products has a 52-week low of $40.56 and a 52-week high of $54.73.
In other news, Director John P. Gethin sold 5,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $49.50, for a total transaction of $247,500.00. Following the completion of the sale, the director now owns 20,850 shares in the company, valued at approximately $1,032,075. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of SMP. MetLife Investment Advisors LLC acquired a new position in Standard Motor Products during the 4th quarter worth approximately $433,000. Gotham Asset Management LLC lifted its position in Standard Motor Products by 12.4% during the 4th quarter. Gotham Asset Management LLC now owns 24,075 shares of the auto parts company’s stock worth $1,081,000 after acquiring an additional 2,665 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in Standard Motor Products by 6.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 165,817 shares of the auto parts company’s stock worth $7,447,000 after acquiring an additional 10,582 shares in the last quarter. Raymond James & Associates acquired a new position in Standard Motor Products during the 4th quarter worth approximately $725,000. Finally, Goldman Sachs Group Inc. lifted its position in Standard Motor Products by 0.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 355,605 shares of the auto parts company’s stock worth $15,970,000 after acquiring an additional 2,722 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.
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About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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