Standard Motor Products, Inc. (NYSE:SMP – Free Report) – Zacks Research dropped their Q1 2024 earnings per share (EPS) estimates for shares of Standard Motor Products in a research report issued to clients and investors on Wednesday, September 6th. Zacks Research analyst L. Shahu now anticipates that the auto parts company will post earnings of $0.71 per share for the quarter, down from their previous forecast of $0.72. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.24 per share. Zacks Research also issued estimates for Standard Motor Products’ Q2 2024 earnings at $0.93 EPS, Q3 2024 earnings at $1.13 EPS, FY2024 earnings at $3.73 EPS and Q1 2025 earnings at $0.90 EPS.
Separately, StockNews.com upgraded Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 30th.
Standard Motor Products Price Performance
Shares of NYSE SMP opened at $35.26 on Thursday. Standard Motor Products has a twelve month low of $31.61 and a twelve month high of $42.42. The company has a current ratio of 2.26, a quick ratio of 0.83 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $766.20 million, a price-to-earnings ratio of 20.62 and a beta of 0.57. The business has a 50 day simple moving average of $37.32 and a 200-day simple moving average of $36.97.
Standard Motor Products (NYSE:SMP – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.13). Standard Motor Products had a return on equity of 11.17% and a net margin of 2.76%. The business had revenue of $353.10 million for the quarter, compared to analysts’ expectations of $374.45 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Standard Motor Products’s revenue for the quarter was down 1.8% compared to the same quarter last year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of SMP. Arizona State Retirement System bought a new stake in shares of Standard Motor Products during the 1st quarter worth about $208,000. Eagle Asset Management Inc. increased its holdings in Standard Motor Products by 0.8% during the 1st quarter. Eagle Asset Management Inc. now owns 92,202 shares of the auto parts company’s stock valued at $3,403,000 after purchasing an additional 743 shares in the last quarter. Benson Investment Management Company Inc. bought a new position in Standard Motor Products in the 1st quarter valued at $890,000. HighTower Advisors LLC bought a new position in Standard Motor Products in the 4th quarter valued at $6,603,000. Finally, Inspire Investing LLC boosted its position in shares of Standard Motor Products by 9.9% in the 1st quarter. Inspire Investing LLC now owns 7,401 shares of the auto parts company’s stock worth $273,000 after purchasing an additional 668 shares during the last quarter. 77.05% of the stock is owned by institutional investors and hedge funds.
Standard Motor Products Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.29%. The ex-dividend date was Monday, August 14th. Standard Motor Products’s payout ratio is 67.84%.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes automotive parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry in the United States and internationally. The company's Engine Management segment provides electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils, switches and relays, exhaust gas recirculation valves, pressure and temperature sensors, variable valve timing components, mass airflow and fuel pressure sensors, electronic throttle bodies, and diesel injectors and pumps; and anti-lock brake, vehicle speed, tire pressure monitoring, and park assist sensors.
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