Wall Street analysts expect that Standard Motor Products, Inc. (NYSE:SMP) will post sales of $290.93 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Standard Motor Products’ earnings, with the highest sales estimate coming in at $291.80 million and the lowest estimate coming in at $290.05 million. Standard Motor Products posted sales of $281.06 million during the same quarter last year, which indicates a positive year over year growth rate of 3.5%. The firm is expected to issue its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Standard Motor Products will report full year sales of $1.09 billion for the current year. For the next fiscal year, analysts anticipate that the company will post sales of $1.12 billion, with estimates ranging from $1.12 billion to $1.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Standard Motor Products.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Thursday, July 26th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). The firm had revenue of $286.64 million during the quarter. Standard Motor Products had a net margin of 2.66% and a return on equity of 12.38%. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share.
In other Standard Motor Products news, VP Thomas Tesoro sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $51.22, for a total transaction of $51,220.00. Following the completion of the sale, the vice president now directly owns 30,456 shares of the company’s stock, valued at approximately $1,559,956.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ray Nicholas sold 1,281 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $48.04, for a total value of $61,539.24. Following the sale, the vice president now directly owns 32,250 shares of the company’s stock, valued at $1,549,290. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,281 shares of company stock valued at $312,759. Insiders own 6.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SMP. Swiss National Bank lifted its position in Standard Motor Products by 6.3% during the 1st quarter. Swiss National Bank now owns 35,700 shares of the auto parts company’s stock worth $1,698,000 after acquiring an additional 2,100 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Standard Motor Products by 4.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 173,171 shares of the auto parts company’s stock worth $8,238,000 after acquiring an additional 6,619 shares during the period. Aperio Group LLC acquired a new stake in Standard Motor Products during the 1st quarter worth approximately $221,000. Envestnet Asset Management Inc. lifted its position in Standard Motor Products by 118.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,808 shares of the auto parts company’s stock worth $175,000 after acquiring an additional 2,065 shares during the period. Finally, BlackRock Inc. lifted its position in Standard Motor Products by 1.3% during the 1st quarter. BlackRock Inc. now owns 2,659,157 shares of the auto parts company’s stock worth $126,496,000 after acquiring an additional 35,359 shares during the period. 83.30% of the stock is owned by institutional investors.
Shares of NYSE SMP traded up $0.19 during trading hours on Wednesday, reaching $44.17. The stock had a trading volume of 117,349 shares, compared to its average volume of 98,262. The stock has a market cap of $1.10 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 2.36 and a beta of 1.66. Standard Motor Products has a fifty-two week low of $40.56 and a fifty-two week high of $52.29.
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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