Equities research analysts expect Standard Motor Products, Inc. (NYSE:SMP) to report sales of $341.51 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Standard Motor Products’ earnings. The lowest sales estimate is $339.31 million and the highest is $343.70 million. Standard Motor Products reported sales of $343.61 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.6%. The company is scheduled to announce its next quarterly earnings report on Wednesday, October 27th.
According to Zacks, analysts expect that Standard Motor Products will report full-year sales of $1.23 billion for the current year, with estimates ranging from $1.22 billion to $1.23 billion. For the next year, analysts expect that the business will report sales of $1.25 billion, with estimates ranging from $1.22 billion to $1.27 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Standard Motor Products.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, August 4th. The auto parts company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.60. Standard Motor Products had a return on equity of 19.85% and a net margin of 6.90%. The business had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $270.70 million. During the same period in the prior year, the firm earned $0.52 EPS. The business’s quarterly revenue was up 38.0% on a year-over-year basis.
In other Standard Motor Products news, SVP Thomas Tesoro sold 1,500 shares of the stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $42.99, for a total value of $64,485.00. Following the transaction, the senior vice president now directly owns 21,729 shares of the company’s stock, valued at approximately $934,129.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter J. Sills sold 5,681 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $43.48, for a total transaction of $247,009.88. The disclosure for this sale can be found here. Insiders have sold a total of 20,756 shares of company stock valued at $887,290 in the last quarter. Corporate insiders own 6.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. purchased a new position in Standard Motor Products during the second quarter worth about $27,148,000. Investment Counselors of Maryland LLC raised its position in shares of Standard Motor Products by 37.4% in the first quarter. Investment Counselors of Maryland LLC now owns 963,412 shares of the auto parts company’s stock valued at $40,059,000 after purchasing an additional 262,059 shares during the period. Millennium Management LLC bought a new stake in shares of Standard Motor Products in the first quarter valued at approximately $7,559,000. Royce & Associates LP increased its holdings in Standard Motor Products by 16.7% during the 1st quarter. Royce & Associates LP now owns 1,148,654 shares of the auto parts company’s stock worth $47,761,000 after acquiring an additional 164,500 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Standard Motor Products by 95.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 283,066 shares of the auto parts company’s stock worth $11,770,000 after acquiring an additional 138,204 shares during the period. 76.82% of the stock is owned by hedge funds and other institutional investors.
Shares of SMP stock traded up $0.21 during mid-day trading on Thursday, hitting $43.22. 91,119 shares of the stock traded hands, compared to its average volume of 139,809. The firm has a market cap of $960.39 million, a price-to-earnings ratio of 11.43 and a beta of 0.39. The company’s 50-day simple moving average is $42.62 and its 200-day simple moving average is $43.76. Standard Motor Products has a twelve month low of $39.09 and a twelve month high of $55.29.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, August 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Friday, August 13th. Standard Motor Products’s dividend payout ratio (DPR) is presently 27.70%.
Standard Motor Products Company Profile
Standard Motor Products, Inc engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management and Temperature Control. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.
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