Standard Motor Products Lowered to “Hold” at S&P Equity Research (SMP)
Standard Motor Products (NYSE:SMP) was downgraded by analysts at S&P Equity Research to a “hold” rating in a research report issued to clients and investors on Thursday, StockRatingsNetwork reports.
Separately, analysts at Zacks downgraded shares of Standard Motor Products from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 30th. They now have a $34.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Standard Motor Products has a consensus rating of “Hold” and a consensus price target of $34.67.
Shares of Standard Motor Products (NYSE:SMP) traded down 4.59% on Thursday, hitting $34.50. 233,935 shares of the company’s stock traded hands. Standard Motor Products has a 52 week low of $17.34 and a 52 week high of $39.99. The stock’s 50-day moving average is $33.42 and its 200-day moving average is $32.96. The company has a market cap of $793.2 million and a price-to-earnings ratio of 17.43.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Tuesday, October 29th. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The company had revenue of $264.20 million for the quarter, compared to the consensus estimate of $278.07 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts expect that Standard Motor Products will post $2.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Wednesday, November 13th.
Standard Motor Products, Inc (NYSE:SMP) is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry, with a focus on the original equipment service market.
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