Standard Motor Products, Inc. (NYSE:SMP) – Investment analysts at FBR & Co dropped their FY2017 earnings per share (EPS) estimates for shares of Standard Motor Products in a report issued on Friday. FBR & Co analyst C. Horn now expects that the auto parts company will earn $2.73 per share for the year, down from their previous forecast of $3.00. FBR & Co currently has a “Hold” rating and a $48.00 target price on the stock. FBR & Co also issued estimates for Standard Motor Products’ Q4 2017 earnings at $0.45 EPS, Q1 2018 earnings at $0.70 EPS, Q2 2018 earnings at $1.03 EPS, Q3 2018 earnings at $1.03 EPS and FY2018 earnings at $3.35 EPS.
Standard Motor Products (NYSE:SMP) last issued its earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.12). The firm had revenue of $281.06 million during the quarter, compared to the consensus estimate of $301.31 million. Standard Motor Products had a net margin of 4.97% and a return on equity of 13.68%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share.
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A number of other equities analysts have also recently commented on SMP. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Standard Motor Products in a report on Wednesday, August 9th. Zacks Investment Research cut Standard Motor Products from a “hold” rating to a “strong sell” rating in a report on Monday. BidaskClub cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Standard Motor Products has a consensus rating of “Hold” and a consensus target price of $54.00.
Shares of Standard Motor Products (SMP) opened at 44.67 on Monday. The firm has a 50 day moving average price of $47.13 and a 200 day moving average price of $48.62. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.65 and a beta of 1.80. Standard Motor Products has a 52 week low of $43.29 and a 52 week high of $55.37.
Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. bought a new position in Standard Motor Products in the 1st quarter worth $152,000. NN Investment Partners Holdings N.V. purchased a new stake in Standard Motor Products in the 2nd quarter worth $186,000. State of Alaska Department of Revenue increased its stake in Standard Motor Products by 78.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,962 shares of the auto parts company’s stock worth $206,000 after buying an additional 1,742 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Standard Motor Products in the 2nd quarter worth $227,000. Finally, Victory Capital Management Inc. increased its stake in Standard Motor Products by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock worth $253,000 after buying an additional 729 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors.
In related news, CEO Eric Sills sold 1,060 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $48.59, for a total value of $51,505.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Lawrence I. Sills sold 5,002 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $44.10, for a total value of $220,588.20. Following the completion of the transaction, the chairman now directly owns 704,696 shares in the company, valued at $31,077,093.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,443 shares of company stock worth $4,744,091. 6.60% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.76 dividend on an annualized basis and a yield of 1.70%. Standard Motor Products’s dividend payout ratio is currently 32.20%.
About Standard Motor Products
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.
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