Zacks: Brokerages Expect Standard Motor Products, Inc. (NYSE:SMP) Will Announce Earnings of $0.99 Per Share
Equities research analysts forecast that Standard Motor Products, Inc. (NYSE:SMP) will post $0.99 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Standard Motor Products’ earnings. The highest EPS estimate is $1.01 and the lowest is $0.96. Standard Motor Products reported earnings per share of $0.88 in the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The firm is scheduled to issue its next earnings report on Wednesday, August 2nd.
On average, analysts expect that Standard Motor Products will report full year earnings of $3.23 per share for the current fiscal year, with EPS estimates ranging from $3.16 to $3.30. For the next year, analysts forecast that the firm will report earnings of $3.53 per share, with EPS estimates ranging from $3.52 to $3.53. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Standard Motor Products.
Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Thursday, May 4th. The auto parts company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.09. The business had revenue of $282.38 million during the quarter. Standard Motor Products had a return on equity of 15.57% and a net margin of 5.80%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share.
SMP has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating on shares of Standard Motor Products in a report on Friday, July 7th. BidaskClub raised Standard Motor Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research raised Standard Motor Products from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Friday, May 5th.
Standard Motor Products (NYSE SMP) traded up 0.29% during mid-day trading on Monday, reaching $52.37. The company had a trading volume of 48,889 shares. Standard Motor Products has a one year low of $41.10 and a one year high of $55.37. The company’s 50-day moving average is $51.26 and its 200-day moving average is $49.83. The stock has a market capitalization of $1.20 billion, a PE ratio of 19.00 and a beta of 1.83.
In other Standard Motor Products news, Chairman Lawrence I. Sills sold 2,200 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $50.65, for a total transaction of $111,430.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arthur S. Sills sold 10,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $50.34, for a total value of $503,400.00. Following the sale, the director now owns 351,010 shares in the company, valued at approximately $17,669,843.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,000 shares of company stock worth $1,969,855. Company insiders own 6.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Capital Fund Management S.A. bought a new stake in Standard Motor Products during the first quarter valued at about $1,007,000. Strs Ohio bought a new stake in Standard Motor Products during the first quarter valued at about $633,000. State Board of Administration of Florida Retirement System increased its stake in Standard Motor Products by 11.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,373 shares of the auto parts company’s stock valued at $871,000 after buying an additional 1,640 shares in the last quarter. Teachers Advisors LLC increased its stake in Standard Motor Products by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 36,176 shares of the auto parts company’s stock valued at $1,925,000 after buying an additional 1,566 shares in the last quarter. Finally, Icon Advisers Inc. Co. bought a new stake in Standard Motor Products during the first quarter valued at about $378,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.
About Standard Motor Products
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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