Analysts predict that Standard Motor Products, Inc. (NYSE:SMP) will report earnings of $0.83 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Standard Motor Products’ earnings, with the highest EPS estimate coming in at $0.85 and the lowest estimate coming in at $0.81. Standard Motor Products reported earnings of $0.81 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The firm is expected to announce its next earnings report on Monday, July 30th.
According to Zacks, analysts expect that Standard Motor Products will report full-year earnings of $2.83 per share for the current financial year, with EPS estimates ranging from $2.79 to $2.86. For the next financial year, analysts forecast that the company will report earnings of $3.67 per share, with EPS estimates ranging from $3.57 to $3.77. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Standard Motor Products.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, May 3rd. The auto parts company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.24). Standard Motor Products had a return on equity of 12.72% and a net margin of 2.76%. The business had revenue of $261.83 million for the quarter. During the same period in the previous year, the business posted $0.74 EPS. The firm’s revenue was down 7.3% on a year-over-year basis.
A number of brokerages have recently commented on SMP. ValuEngine upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Monday, April 9th. Zacks Investment Research lowered Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Standard Motor Products presently has a consensus rating of “Hold” and a consensus price target of $55.00.
Shares of Standard Motor Products traded down $0.65, reaching $48.63, during trading hours on Tuesday, Marketbeat Ratings reports. 43,308 shares of the company’s stock were exchanged, compared to its average volume of 108,658. Standard Motor Products has a fifty-two week low of $40.56 and a fifty-two week high of $54.73. The firm has a market cap of $1.09 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 2.14 and a beta of 1.66.
Standard Motor Products declared that its Board of Directors has approved a share repurchase plan on Friday, May 18th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the auto parts company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in shares of Standard Motor Products by 118.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,808 shares of the auto parts company’s stock valued at $175,000 after purchasing an additional 2,065 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Standard Motor Products in the first quarter valued at $221,000. Crossmark Global Holdings Inc. acquired a new position in shares of Standard Motor Products in the fourth quarter valued at $239,000. Teacher Retirement System of Texas acquired a new position in shares of Standard Motor Products in the fourth quarter valued at $320,000. Finally, Symons Capital Management Inc. acquired a new position in shares of Standard Motor Products in the fourth quarter valued at $362,000. Institutional investors and hedge funds own 81.43% of the company’s stock.
Standard Motor Products Company Profile
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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