Standard Motor Products Stock Rating Reaffirmed by Zacks (SMP)
Standard Motor Products (NYSE:SMP)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Thursday. They currently have a $40.00 price target on the stock. Zacks‘s price target points to a potential upside of 4.55% from the company’s current price.
Zacks’ analyst wrote, “Standard Motor reported an 8.6% rise in adjusted earnings per share to $0.76 in the second quarter of 2014. However, the earnings missed the Zacks Consensus Estimate of $0.79. Total revenue increased 0.9% to $272.5 million, missing the Zacks Consensus Estimate of $290 million. Standard Motor will benefit from the 50/50 joint venture with Gwo Yng Enterprises, acquisition of certain assets and liabilities of Annex Manufacturing and plan of acquisition of Pensacola Fuel Injection. However, we are concerned about the company’s high dependence on few customers and price competition. Thus, we are maintaining our Neutral recommendation.”
Shares of Standard Motor Products (NYSE:SMP) traded down 4.86% during mid-day trading on Thursday, hitting $36.40. The stock had a trading volume of 108,572 shares. Standard Motor Products has a one year low of $28.07 and a one year high of $45.80. The stock’s 50-day moving average is $43.07 and its 200-day moving average is $38.19. The company has a market cap of $832.0 million and a P/E ratio of 16.51.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Wednesday, July 30th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.04. The company had revenue of $272.50 million for the quarter, compared to the consensus estimate of $285.53 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Standard Motor Products will post $2.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.36%.
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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