Analysts Anticipate Standard Motor Products, Inc. (SMP) Will Post Quarterly Sales of $229.00 Million

Wall Street brokerages predict that Standard Motor Products, Inc. (NYSE:SMP) will report sales of $229.00 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Standard Motor Products’ earnings, with the lowest sales estimate coming in at $227.50 million and the highest estimate coming in at $230.50 million. Standard Motor Products reported sales of $229.80 million in the same quarter last year, which indicates a negative year over year growth rate of 0.3%. The company is scheduled to report its next quarterly earnings results on Thursday, February 15th.

On average, analysts expect that Standard Motor Products will report full-year sales of $229.00 million for the current fiscal year, with estimates ranging from $1.10 billion to $1.11 billion. For the next financial year, analysts expect that the business will report sales of $1.14 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Standard Motor Products.

A number of equities analysts have issued reports on SMP shares. Zacks Investment Research downgraded Standard Motor Products from a “hold” rating to a “strong sell” rating in a report on Monday, October 30th. B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a research note on Wednesday, November 1st. Finally, FBR & Co reissued a “hold” rating and issued a $48.00 target price on shares of Standard Motor Products in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Standard Motor Products has an average rating of “Hold” and a consensus target price of $54.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMP. Piedmont Investment Advisors LLC purchased a new stake in shares of Standard Motor Products in the second quarter worth $227,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Standard Motor Products in the fourth quarter worth $239,000. SG Americas Securities LLC purchased a new stake in shares of Standard Motor Products in the third quarter worth $309,000. Suntrust Banks Inc. grew its stake in shares of Standard Motor Products by 1.1% in the second quarter. Suntrust Banks Inc. now owns 5,949 shares of the auto parts company’s stock worth $310,000 after acquiring an additional 64 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Standard Motor Products by 29.0% in the second quarter. GSA Capital Partners LLP now owns 6,131 shares of the auto parts company’s stock worth $320,000 after acquiring an additional 1,377 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

Standard Motor Products (SMP) opened at $46.92 on Friday. The stock has a market capitalization of $1,076.40, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.43 and a beta of 1.82. Standard Motor Products has a twelve month low of $40.56 and a twelve month high of $54.73.

Standard Motor Products announced that its board has approved a share repurchase program on Monday, November 20th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.21 dividend. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Wednesday, February 14th. Standard Motor Products’s dividend payout ratio is currently 32.20%.

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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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