Brokerages expect Standard Motor Products, Inc. (NYSE:SMP) to post sales of $279.90 million for the current quarter, Zacks reports. Two analysts have made estimates for Standard Motor Products’ earnings, with the highest sales estimate coming in at $284.29 million and the lowest estimate coming in at $275.50 million. Standard Motor Products reported sales of $261.83 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The business is expected to announce its next quarterly earnings results on Thursday, May 2nd.
According to Zacks, analysts expect that Standard Motor Products will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $1.14 billion to $1.16 billion. For the next year, analysts anticipate that the firm will post sales of $1.18 billion, with estimates ranging from $1.17 billion to $1.19 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Standard Motor Products.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Thursday, February 14th. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). Standard Motor Products had a return on equity of 12.56% and a net margin of 3.94%. The business had revenue of $246.97 million for the quarter, compared to analyst estimates of $247.45 million. During the same period last year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year.
Several research analysts have recently weighed in on SMP shares. Zacks Investment Research raised shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Monday, December 31st. ValuEngine lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd.
Shares of SMP stock traded down $0.27 on Friday, hitting $53.31. 832 shares of the stock traded hands, compared to its average volume of 67,792. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.45 and a beta of 1.05. Standard Motor Products has a twelve month low of $42.50 and a twelve month high of $56.54.
In related news, EVP Dale Burks sold 1,431 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $49.65, for a total value of $71,049.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of SMP. Millennium Management LLC grew its position in shares of Standard Motor Products by 603.1% during the fourth quarter. Millennium Management LLC now owns 147,596 shares of the auto parts company’s stock worth $7,148,000 after buying an additional 126,604 shares in the last quarter. BlackRock Inc. boosted its holdings in Standard Motor Products by 3.5% in the third quarter. BlackRock Inc. now owns 2,917,882 shares of the auto parts company’s stock valued at $143,618,000 after purchasing an additional 99,786 shares in the last quarter. Morgan Stanley boosted its holdings in Standard Motor Products by 99.8% in the third quarter. Morgan Stanley now owns 93,725 shares of the auto parts company’s stock valued at $4,613,000 after purchasing an additional 46,808 shares in the last quarter. Boston Partners boosted its holdings in Standard Motor Products by 8.4% in the fourth quarter. Boston Partners now owns 316,658 shares of the auto parts company’s stock valued at $15,335,000 after purchasing an additional 24,422 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in Standard Motor Products by 1.6% in the third quarter. Vanguard Group Inc now owns 1,154,030 shares of the auto parts company’s stock valued at $56,801,000 after purchasing an additional 18,702 shares in the last quarter. Institutional investors own 80.02% of the company’s stock.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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