Wall Street analysts forecast that Standard Motor Products, Inc. (NYSE:SMP) will report $229.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Standard Motor Products’ earnings, with the highest sales estimate coming in at $230.50 million and the lowest estimate coming in at $227.50 million. Standard Motor Products posted sales of $229.80 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.3%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, February 15th.
According to Zacks, analysts expect that Standard Motor Products will report full-year sales of $229.00 million for the current year, with estimates ranging from $1.10 billion to $1.11 billion. For the next financial year, analysts expect that the firm will report sales of $1.14 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Standard Motor Products.
SMP has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Standard Motor Products from a “hold” rating to a “strong sell” rating in a research report on Monday, October 30th. B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. Finally, FBR & Co reissued a “hold” rating and issued a $48.00 price target on shares of Standard Motor Products in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Standard Motor Products has an average rating of “Hold” and a consensus price target of $54.00.
Institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Standard Motor Products in the second quarter worth $227,000. Crossmark Global Holdings Inc. acquired a new stake in Standard Motor Products during the fourth quarter worth $239,000. SG Americas Securities LLC acquired a new stake in Standard Motor Products during the third quarter worth $309,000. Suntrust Banks Inc. boosted its stake in Standard Motor Products by 1.1% during the second quarter. Suntrust Banks Inc. now owns 5,949 shares of the auto parts company’s stock worth $310,000 after buying an additional 64 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Standard Motor Products by 29.0% during the second quarter. GSA Capital Partners LLP now owns 6,131 shares of the auto parts company’s stock worth $320,000 after buying an additional 1,377 shares in the last quarter. Institutional investors and hedge funds own 80.51% of the company’s stock.
Standard Motor Products (NYSE SMP) traded up $0.30 during trading hours on Friday, hitting $48.20. 178,674 shares of the stock were exchanged, compared to its average volume of 135,157. Standard Motor Products has a 12 month low of $40.56 and a 12 month high of $54.73. The company has a market capitalization of $1,090.19, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.46 and a beta of 1.82.
The business also recently disclosed 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 an increase from Standard Motor Products’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. Standard Motor Products’s dividend payout ratio (DPR) is presently 35.59%.
Standard Motor Products announced that its Board of Directors has initiated a stock 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 buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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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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