Jun 26, 2023
Q1 2024 EPS Estimates for Standard Motor Products, Inc. Cut by Analyst (NYSE:SMP)
Standard Motor Products, Inc. (NYSE:SMP - Free Report) - Zacks Research cut their Q1 2024 EPS estimates for shares of Standard Motor Products in a report released on Wednesday, August 16th. Zacks
Standard Motor Products, Inc. (NYSE:SMP - Free Report) - Zacks Research cut their Q1 2024 EPS estimates for shares of Standard Motor Products in a report released on Wednesday, August 16th. Zacks Research analyst L. Shahu now anticipates that the auto parts company will post earnings per share of $0.72 for the quarter, down from their previous forecast of $0.76. 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 $0.94 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.75 EPS and Q2 2025 earnings at $1.00 EPS.
Standard Motor Products (NYSE:SMP - Get Free Report) last announced its quarterly earnings results 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 net margin of 2.76% and a return on equity of 11.17%. The firm had revenue of $353.10 million for the quarter, compared to the consensus estimate of $374.45 million. During the same period in the prior year, the business earned $0.93 earnings per share. The company's revenue for the quarter was down 1.8% on a year-over-year basis.
Separately, StockNews.com downgraded shares of Standard Motor Products from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 16th.
Check Out Our Latest Stock Report on SMP
Shares of NYSE SMP opened at $35.57 on Monday. Standard Motor Products has a 1-year low of $31.61 and a 1-year high of $42.42. The company has a market cap of $772.94 million, a PE ratio of 20.80 and a beta of 0.57. 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 50-day moving average of $37.39 and a two-hundred day moving average of $37.32.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, August 14th. Standard Motor Products's dividend payout ratio is presently 67.84%.
In other news, VP Ray Nicholas sold 2,550 shares of Standard Motor Products stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $36.41, for a total transaction of $92,845.50. Following the completion of the sale, the vice president now owns 43,557 shares in the company, valued at approximately $1,585,910.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.40% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of SMP. PNC Financial Services Group Inc. grew its position in shares of Standard Motor Products by 85.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 691 shares of the auto parts company's stock worth $26,000 after buying an additional 319 shares during the period. Quadrant Capital Group LLC grew its holdings in Standard Motor Products by 2,473.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,184 shares of the auto parts company's stock valued at $41,000 after purchasing an additional 1,138 shares during the period. FMR LLC grew its holdings in Standard Motor Products by 131.5% during the first quarter. FMR LLC now owns 1,366 shares of the auto parts company's stock valued at $50,000 after purchasing an additional 776 shares during the period. Captrust Financial Advisors grew its holdings in Standard Motor Products by 47.4% during the first quarter. Captrust Financial Advisors now owns 2,217 shares of the auto parts company's stock valued at $96,000 after purchasing an additional 713 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Standard Motor Products by 957.5% during the first quarter. Tower Research Capital LLC TRC now owns 2,908 shares of the auto parts company's stock valued at $107,000 after purchasing an additional 2,633 shares during the period. Institutional investors and hedge funds own 75.95% of the company's stock.
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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