Standard Motor Products (NYSE:SMP) Announces Earnings Results, Beats Expectations By $0.30 EPS

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Standard Motor Products (NYSE:SMP) announced its earnings results on Wednesday. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.30, Briefing.com reports. Standard Motor Products had a return on equity of 11.63% and a net margin of 4.36%. The business had revenue of $247.90 million for the quarter, compared to analyst estimates of $220.56 million. During the same quarter last year, the firm earned $0.92 EPS. Standard Motor Products’s revenue for the quarter was down 18.8% compared to the same quarter last year.

NYSE:SMP opened at $45.48 on Friday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 17.99 and a beta of 0.73. Standard Motor Products has a twelve month low of $33.94 and a twelve month high of $55.85. The stock’s 50 day moving average price is $40.30 and its two-hundred day moving average price is $42.94. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.05.

A number of brokerages recently issued reports on SMP. Zacks Investment Research lowered Standard Motor Products from a “hold” rating to a “sell” rating and set a $41.00 target price on the stock. in a research report on Friday, May 8th. CL King raised Standard Motor Products from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, June 26th. Finally, Stephens lowered their price target on Standard Motor Products from $61.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th.

In other Standard Motor Products news, Director Peter J. Sills sold 6,586 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $40.76, for a total transaction of $268,445.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 19,758 shares of company stock worth $819,562 in the last ninety days. Insiders own 6.40% 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. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.

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Earnings History for Standard Motor Products (NYSE:SMP)

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