$229.00 Million in Sales Expected for Standard Motor Products, Inc. (SMP) This Quarter
Wall Street brokerages expect Standard Motor Products, Inc. (NYSE:SMP) to post sales of $229.00 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Standard Motor Products’ earnings, with the lowest sales estimate coming in at $227.50 million and the highest estimate coming in at $230.50 million. Standard Motor Products reported sales of $229.80 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 15th.
According to Zacks, analysts expect that Standard Motor Products will report full year sales of $229.00 million for the current year, with estimates ranging from $1.10 billion to $1.11 billion. For the next financial year, analysts anticipate that the company will report sales of $1.14 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Standard Motor Products.
SMP has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Standard Motor Products from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. FBR & Co restated a “hold” rating and set a $48.00 target price on shares of Standard Motor Products in a report on Friday, October 27th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Standard Motor Products in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $54.00.
Shares of Standard Motor Products (NYSE SMP) opened at $46.92 on Friday. The firm has a market cap of $1,076.40, a P/E ratio of 19.88, a P/E/G ratio of 2.43 and a beta of 1.82. Standard Motor Products has a 1-year low of $40.56 and a 1-year high of $54.73.
Standard Motor Products declared that its board has approved a share repurchase program on Monday, November 20th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.21 dividend. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.79%. Standard Motor Products’s dividend payout ratio (DPR) is currently 32.20%.
COPYRIGHT VIOLATION NOTICE: “$229.00 Million in Sales Expected for Standard Motor Products, Inc. (SMP) This Quarter” was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://theolympiareport.com/2018/02/11/229-00-million-in-sales-expected-for-standard-motor-products-inc-smp-this-quarter.html.
Standard Motor Products Company Profile
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Standard Motor Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products and related companies with MarketBeat.com's FREE daily email newsletter.