Analysts Anticipate Standard Motor Products, Inc. (SMP) Will Post Quarterly Sales of $290.93 Million
Wall Street analysts predict that Standard Motor Products, Inc. (NYSE:SMP) will announce $290.93 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Standard Motor Products’ earnings. The highest sales estimate is $291.80 million and the lowest is $290.05 million. Standard Motor Products reported sales of $281.06 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The firm is expected to announce its next earnings report on Thursday, October 25th.
On average, analysts expect that Standard Motor Products will report full-year sales of $1.09 billion for the current fiscal year. For the next year, analysts forecast that the business will post sales of $1.12 billion, with estimates ranging from $1.12 billion to $1.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Standard Motor Products.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Thursday, July 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.05). The company had revenue of $286.64 million for the quarter. Standard Motor Products had a net margin of 2.66% and a return on equity of 12.38%. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS.
SMP stock traded up $0.19 during trading on Wednesday, hitting $44.17. 117,349 shares of the company traded hands, compared to its average volume of 98,262. The stock has a market cap of $1.10 billion, a P/E ratio of 15.61, a P/E/G ratio of 2.36 and a beta of 1.66. Standard Motor Products has a 1 year low of $40.56 and a 1 year high of $52.29.
In other Standard Motor Products news, VP Thomas Tesoro sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $51.22, for a total value of $51,220.00. Following the sale, the vice president now directly owns 30,456 shares of the company’s stock, valued at $1,559,956.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Ray Nicholas sold 1,281 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $48.04, for a total value of $61,539.24. Following the completion of the sale, the vice president now directly owns 32,250 shares in the company, valued at $1,549,290. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,281 shares of company stock worth $312,759. 6.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SMP. US Bancorp DE grew its holdings in Standard Motor Products by 121.9% in the second quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock valued at $104,000 after purchasing an additional 1,173 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Standard Motor Products in the second quarter worth approximately $125,000. Dubuque Bank & Trust Co. acquired a new stake in shares of Standard Motor Products in the second quarter worth approximately $148,000. Envestnet Asset Management Inc. boosted its stake in shares of Standard Motor Products by 118.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,808 shares of the auto parts company’s stock worth $175,000 after acquiring an additional 2,065 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Standard Motor Products in the second quarter worth approximately $207,000. 83.30% of the stock is currently owned by institutional investors.
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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