Analysts Expect Standard Motor Products, Inc. (SMP) Will Announce Quarterly Sales of $301.31 Million
Equities research analysts predict that Standard Motor Products, Inc. (NYSE:SMP) will announce $301.31 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Standard Motor Products’ earnings, with estimates ranging from $294.52 million to $308.10 million. Standard Motor Products posted sales of $300.80 million during the same quarter last year, which suggests a positive year over year growth rate of 0.2%. The company is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Standard Motor Products will report full-year sales of $301.31 million for the current fiscal year, with estimates ranging from $1.13 billion to $1.14 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.17 billion per share, with estimates ranging from $1.16 billion to $1.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Standard Motor Products.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.18). The company had revenue of $312.73 million during the quarter. Standard Motor Products had a net margin of 5.55% and a return on equity of 14.83%. Standard Motor Products’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS.
Several equities research analysts have recently commented on the stock. BidaskClub raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Standard Motor Products in a research report on Friday, July 7th. Finally, ValuEngine downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $55.67.
Shares of Standard Motor Products (NYSE SMP) traded up 2.02% during trading on Wednesday, hitting $46.90. The stock had a trading volume of 23,791 shares. The company has a market capitalization of $1.07 billion, a P/E ratio of 17.48 and a beta of 1.79. The firm has a 50-day moving average of $45.28 and a 200 day moving average of $48.73. Standard Motor Products has a 1-year low of $43.29 and a 1-year high of $55.37.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Friday, August 11th. Standard Motor Products’s payout ratio is 28.36%.
In other Standard Motor Products news, VP Ray Nicholas sold 1,331 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $45.25, for a total value of $60,227.75. Following the completion of the sale, the vice president now directly owns 30,250 shares of the company’s stock, valued at approximately $1,368,812.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter J. Sills sold 2,584 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $45.60, for a total transaction of $117,830.40. The disclosure for this sale can be found here. Insiders sold a total of 89,217 shares of company stock valued at $3,969,586 over the last ninety days. 6.60% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new stake in Standard Motor Products in the 2nd quarter worth about $227,000. Coldstream Capital Management Inc. grew its position in Standard Motor Products by 7.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 12,833 shares of the auto parts company’s stock worth $670,000 after purchasing an additional 915 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Standard Motor Products by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,970 shares of the auto parts company’s stock worth $886,000 after purchasing an additional 80 shares in the last quarter. State Street Corp grew its position in Standard Motor Products by 2.7% in the 2nd quarter. State Street Corp now owns 497,020 shares of the auto parts company’s stock worth $25,954,000 after purchasing an additional 13,034 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in Standard Motor Products by 8.6% in the 2nd quarter. Voya Investment Management LLC now owns 11,155 shares of the auto parts company’s stock worth $583,000 after purchasing an additional 884 shares in the last quarter. 78.40% of the stock is owned by institutional investors and hedge funds.
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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