FBR & Co Brokers Decrease Earnings Estimates for Standard Motor Products, Inc. (SMP)

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.

Earnings History and Estimates for Standard Motor Products (NYSE:SMP)

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