B. Riley Comments on Standard Motor Products, Inc.’s FY2019 Earnings (SMP)

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Standard Motor Products, Inc. (NYSE:SMP) – Stock analysts at B. Riley raised their FY2019 EPS estimates for Standard Motor Products in a research report issued to clients and investors on Wednesday, May 1st. B. Riley analyst C. Horn now expects that the auto parts company will post earnings of $2.88 per share for the year, up from their prior forecast of $2.83.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.03). Standard Motor Products had a net margin of 4.24% and a return on equity of 13.05%. The company had revenue of $283.80 million for the quarter, compared to the consensus estimate of $278.13 million. During the same period in the prior year, the firm posted $0.46 EPS. The business’s revenue was up 8.4% on a year-over-year basis.

A number of other brokerages also recently commented on SMP. Zacks Investment Research downgraded shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. ValuEngine downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd.

Standard Motor Products stock opened at $48.75 on Friday. The company has a market cap of $1.11 billion, a PE ratio of 19.12, a P/E/G ratio of 1.35 and a beta of 1.04. Standard Motor Products has a fifty-two week low of $42.50 and a fifty-two week high of $56.54.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, May 14th. Standard Motor Products’s dividend payout ratio (DPR) is 36.08%.

In related news, EVP Dale Burks sold 1,431 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.60% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Tributary Capital Management LLC raised its position in shares of Standard Motor Products by 62.2% during the 1st quarter. Tributary Capital Management LLC now owns 368,583 shares of the auto parts company’s stock worth $18,097,000 after purchasing an additional 141,343 shares during the last quarter. Millennium Management LLC raised its position in shares of Standard Motor Products by 603.1% during the 4th quarter. Millennium Management LLC now owns 147,596 shares of the auto parts company’s stock worth $7,148,000 after purchasing an additional 126,604 shares during the last quarter. BlackRock Inc. raised its position in shares of Standard Motor Products by 2.8% during the 4th quarter. BlackRock Inc. now owns 3,000,644 shares of the auto parts company’s stock worth $145,320,000 after purchasing an additional 82,762 shares during the last quarter. Morgan Stanley raised its position in shares of Standard Motor Products by 99.8% during the 3rd quarter. Morgan Stanley now owns 93,725 shares of the auto parts company’s stock worth $4,613,000 after purchasing an additional 46,808 shares during the last quarter. Finally, Boston Partners raised its position in shares of Standard Motor Products by 8.4% during the 4th quarter. Boston Partners now owns 316,658 shares of the auto parts company’s stock worth $15,335,000 after purchasing an additional 24,422 shares during the last quarter. 78.40% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Standard Motor Products (NYSE:SMP)

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