$123.50 Million in Sales Expected for Motorcar Parts of America, Inc. (MPAA) This Quarter

Equities analysts expect that Motorcar Parts of America, Inc. (NASDAQ:MPAA) will report sales of $123.50 million for the current quarter, according to Zacks. Two analysts have provided estimates for Motorcar Parts of America’s earnings. The highest sales estimate is $124.40 million and the lowest is $122.60 million. Motorcar Parts of America reported sales of $114.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.9%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, June 14th.

According to Zacks, analysts expect that Motorcar Parts of America will report full year sales of $433.30 million for the current fiscal year, with estimates ranging from $429.50 million to $437.10 million. For the next financial year, analysts anticipate that the business will report sales of $470.75 million per share, with estimates ranging from $468.70 million to $472.80 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Motorcar Parts of America.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings results on Thursday, June 14th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.12). Motorcar Parts of America had a return on equity of 13.00% and a net margin of 4.02%. The business had revenue of $121.10 million during the quarter, compared to analysts’ expectations of $123.86 million. During the same quarter in the previous year, the company posted $0.58 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis.

Several research analysts have commented on the stock. BidaskClub downgraded shares of Motorcar Parts of America from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 4th. Zacks Investment Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 17th. Finally, ValuEngine downgraded shares of Motorcar Parts of America from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $34.00.

Large investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Motorcar Parts of America by 93.9% in the 1st quarter. Barclays PLC now owns 5,864 shares of the auto parts company’s stock valued at $125,000 after acquiring an additional 2,840 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Motorcar Parts of America in the 4th quarter valued at about $200,000. HBK Investments L P bought a new position in shares of Motorcar Parts of America in the 4th quarter valued at about $240,000. A.R.T. Advisors LLC bought a new position in shares of Motorcar Parts of America in the 1st quarter valued at about $220,000. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Motorcar Parts of America in the 4th quarter valued at about $277,000.

Shares of Motorcar Parts of America traded down $0.64, hitting $20.02, during midday trading on Monday, according to MarketBeat. 1,099,246 shares of the company traded hands, compared to its average volume of 192,082. Motorcar Parts of America has a 52 week low of $18.53 and a 52 week high of $30.16. The company has a market capitalization of $420.58 million, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.37 and a beta of 1.21. The company has a quick ratio of 0.18, a current ratio of 0.74 and a debt-to-equity ratio of 0.05.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes automotive aftermarket parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers and brake power boosters for import and domestic cars, light trucks, heavy duty, agricultural, and industrial applications.

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Earnings History and Estimates for Motorcar Parts of America (NASDAQ:MPAA)

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