Standard Motor Products, Inc. (SMP) Expected to Announce Earnings of $0.83 Per Share

Wall Street analysts expect Standard Motor Products, Inc. (NYSE:SMP) to announce $0.83 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Standard Motor Products’ earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.85. Standard Motor Products reported earnings per share of $0.81 during the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The company is scheduled to report its next earnings report on Monday, July 30th.

According to Zacks, analysts expect that Standard Motor Products will report full year earnings of $2.83 per share for the current year, with EPS estimates ranging from $2.79 to $2.86. For the next financial year, analysts expect that the firm will report earnings of $3.67 per share, with EPS estimates ranging from $3.57 to $3.77. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Standard Motor Products.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Thursday, May 3rd. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.24). The business had revenue of $261.83 million for the quarter. Standard Motor Products had a net margin of 2.76% and a return on equity of 12.72%. Standard Motor Products’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, February 22nd. ValuEngine upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Monday, April 9th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $55.00.

NYSE SMP traded up $0.34 on Friday, reaching $47.41. 56,586 shares of the company’s stock traded hands, compared to its average volume of 106,490. The company has a market capitalization of $1.08 billion, a PE ratio of 16.63, a P/E/G ratio of 2.12 and a beta of 1.64. Standard Motor Products has a fifty-two week low of $40.56 and a fifty-two week high of $54.73.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, May 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. Standard Motor Products’s dividend payout ratio (DPR) is currently 29.68%.

Standard Motor Products declared that its Board of Directors has authorized a share repurchase program on Friday, May 18th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in shares of Standard Motor Products by 8.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 166,552 shares of the auto parts company’s stock worth $7,480,000 after purchasing an additional 13,274 shares in the last quarter. Boston Partners purchased a new stake in shares of Standard Motor Products during the fourth quarter worth about $13,428,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Standard Motor Products during the fourth quarter worth about $239,000. Teacher Retirement System of Texas purchased a new stake in shares of Standard Motor Products during the fourth quarter worth about $320,000. Finally, California Public Employees Retirement System increased its stake in shares of Standard Motor Products by 17.0% during the fourth quarter. California Public Employees Retirement System now owns 33,524 shares of the auto parts company’s stock worth $1,506,000 after purchasing an additional 4,872 shares in the last quarter. Institutional investors and hedge funds own 82.55% of the company’s stock.

About Standard Motor Products

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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