FY2016 Earnings Estimate for Standard Motor Products Inc. Issued By Jefferies Group (SMP)
Standard Motor Products Inc. (NYSE:SMP) – Investment analysts at Jefferies Group boosted their FY2016 earnings estimates for shares of Standard Motor Products in a report issued on Tuesday. Jefferies Group analyst B. Jordan now forecasts that the firm will earn $3.05 per share for the year, up from their prior estimate of $2.85. Jefferies Group has a “Buy” rating and a $56.00 price objective on the stock. Jefferies Group also issued estimates for Standard Motor Products’ Q4 2016 earnings at $0.68 EPS, Q2 2017 earnings at $1.02 EPS, Q3 2017 earnings at $1.06 EPS, Q4 2017 earnings at $0.76 EPS and FY2017 earnings at $3.47 EPS.
SMP has been the topic of several other reports. FBR & Co raised their target price on Standard Motor Products from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $50.00 target price on the stock in a research report on Friday, August 5th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.75.
Shares of Standard Motor Products (NYSE:SMP) traded down 0.23% on Wednesday, reaching $47.43. The company’s stock had a trading volume of 57,766 shares. The stock has a market cap of $1.08 billion, a PE ratio of 19.86 and a beta of 1.77. The firm has a 50 day moving average price of $46.45 and a 200-day moving average price of $40.77. Standard Motor Products has a 12-month low of $29.69 and a 12-month high of $48.37.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/fy2016-earnings-estimate-for-standard-motor-products-inc-issued-by-jefferies-group-smp.html
Standard Motor Products (NYSE:SMP) last announced its earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.15. The business had revenue of $289 million for the quarter, compared to analysts’ expectations of $277.37 million. Standard Motor Products had a return on equity of 14.75% and a net margin of 5.50%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share.
In other news, VP Thomas Tesoro sold 1,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $43.19, for a total transaction of $43,190.00. Following the completion of the sale, the vice president now directly owns 29,878 shares of the company’s stock, valued at approximately $1,290,430.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter J. Sills sold 2,314 shares of the firm’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $46.99, for a total value of $108,734.86. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. raised its stake in Standard Motor Products by 8.1% in the second quarter. PineBridge Investments L.P. now owns 2,504 shares of the company’s stock valued at $100,000 after buying an additional 187 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Standard Motor Products by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 2,838 shares of the company’s stock valued at $113,000 after buying an additional 341 shares in the last quarter. Creative Planning raised its stake in Standard Motor Products by 15.2% in the third quarter. Creative Planning now owns 2,550 shares of the company’s stock valued at $122,000 after buying an additional 337 shares in the last quarter. BlackRock Inc. raised its stake in Standard Motor Products by 216.2% in the second quarter. BlackRock Inc. now owns 3,772 shares of the company’s stock valued at $150,000 after buying an additional 2,579 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new stake in Standard Motor Products during the second quarter valued at $154,000. 80.03% of the stock is owned by institutional investors and hedge funds.
About Standard Motor Products
Standard Motor Products, Inc is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment.
Receive News & Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.