Brokerages expect that Standard Motor Products, Inc. (NYSE:SMP) will report $247.02 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Standard Motor Products’ earnings, with the highest sales estimate coming in at $249.70 million and the lowest estimate coming in at $244.34 million. Standard Motor Products reported sales of $239.98 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The business is scheduled to announce its next earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that Standard Motor Products will report full year sales of $1.09 billion for the current fiscal year. For the next financial year, analysts expect that the firm will report sales of $1.14 billion, with estimates ranging from $1.13 billion to $1.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Standard Motor Products.
Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Friday, October 26th. The auto parts company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. Standard Motor Products had a net margin of 2.86% and a return on equity of 12.78%. The company had revenue of $296.62 million during the quarter. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis.
A number of equities research analysts have recently weighed in on SMP shares. ValuEngine upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Zacks Investment Research upgraded shares of Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th.
Shares of NYSE SMP traded down $0.65 during midday trading on Friday, reaching $54.53. The company’s stock had a trading volume of 67,277 shares, compared to its average volume of 149,661. Standard Motor Products has a fifty-two week low of $40.56 and a fifty-two week high of $56.54. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 3.49 and a beta of 1.27.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.54%. Standard Motor Products’s payout ratio is 29.68%.
In related news, VP Ray Nicholas sold 1,000 shares of Standard Motor Products stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $43.65, for a total value of $43,650.00. Following the transaction, the vice president now directly owns 35,125 shares of the company’s stock, valued at $1,533,206.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric Sills sold 1,015 shares of Standard Motor Products stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $43.60, for a total transaction of $44,254.00. Following the completion of the transaction, the chief executive officer now directly owns 167,648 shares in the company, valued at $7,309,452.80. The disclosure for this sale can be found here. Insiders sold 9,215 shares of company stock worth $436,006 over the last three months. 6.60% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. US Bancorp DE increased its stake in Standard Motor Products by 121.9% in the second quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock valued at $104,000 after acquiring an additional 1,173 shares during the last quarter. Bruderman Asset Management LLC bought a new position in Standard Motor Products in the second quarter valued at approximately $125,000. Dubuque Bank & Trust Co. bought a new position in Standard Motor Products in the second quarter valued at approximately $148,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Standard Motor Products in the second quarter valued at approximately $207,000. Finally, Itau Unibanco Holding S.A. bought a new position in Standard Motor Products in the second quarter valued at approximately $209,000. 83.21% of the stock is currently owned by institutional investors and hedge funds.
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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