Roth Capital Weighs in on Standard Motor Products, Inc.’s Q2 2024 Earnings (NYSE:SMP)

Standard Motor Products, Inc. (NYSE:SMP) – Equities researchers at Roth Capital dropped their Q2 2024 earnings estimates for Standard Motor Products in a note issued to investors on Wednesday, May 1st. Roth Capital analyst S. Stember now anticipates that the auto parts company will post earnings per share of $0.74 for the quarter, down from their prior estimate of $0.76. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.03 per share. Roth Capital also issued estimates for Standard Motor Products’ Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.51 EPS and Q4 2025 earnings at $0.78 EPS.

Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Standard Motor Products Stock Performance

Shares of Standard Motor Products stock opened at $32.35 on Friday. The firm’s fifty day simple moving average is $32.33 and its 200-day simple moving average is $35.87. The stock has a market capitalization of $730.46 million, a price-to-earnings ratio of 20.89 and a beta of 0.61. Standard Motor Products has a 12 month low of $30.09 and a 12 month high of $41.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.66 and a quick ratio of 0.78.

Standard Motor Products (NYSE:SMP) last announced its earnings results on Wednesday, May 1st. The auto parts company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $331.40 million for the quarter, compared to analysts’ expectations of $321.84 million. Standard Motor Products had a net margin of 2.28% and a return on equity of 9.48%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS.

Hedge Funds Weigh In On Standard Motor Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in shares of Standard Motor Products during the 4th quarter worth $38,215,000. Gabelli Funds LLC boosted its position in shares of Standard Motor Products by 0.6% during the 3rd quarter. Gabelli Funds LLC now owns 315,000 shares of the auto parts company’s stock worth $10,590,000 after purchasing an additional 2,000 shares in the last quarter. Invesco Ltd. boosted its position in shares of Standard Motor Products by 73.4% during the 3rd quarter. Invesco Ltd. now owns 216,723 shares of the auto parts company’s stock worth $7,286,000 after purchasing an additional 91,730 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Standard Motor Products by 14.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 296,400 shares of the auto parts company’s stock worth $9,965,000 after purchasing an additional 37,877 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Standard Motor Products during the 3rd quarter worth $282,000. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Standard Motor Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.59%. Standard Motor Products’s dividend payout ratio (DPR) is 75.32%.

Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.