Standard Motor Products (SMP) Expected to Post Quarterly Sales of $283.54 Million

Equities analysts predict that Standard Motor Products (NYSE:SMP) will post $283.54 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Standard Motor Products’ earnings, with estimates ranging from $279.40 million to $287.68 million. Standard Motor Products posted sales of $282.38 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.4%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, May 3rd.

On average, analysts expect that Standard Motor Products will report full-year sales of $283.54 million for the current year, with estimates ranging from $1.13 billion to $1.16 billion. For the next year, analysts forecast that the firm will report sales of $1.18 billion per share, with estimates ranging from $1.16 billion to $1.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Standard Motor Products.

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Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Tuesday, February 20th. The auto parts company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.16. The company had revenue of $239.98 million during the quarter. Standard Motor Products had a return on equity of 14.15% and a net margin of 3.40%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Standard Motor Products has an average rating of “Hold” and an average price target of $55.00.

Shares of SMP stock traded down $0.74 on Tuesday, hitting $48.36. The company had a trading volume of 159,445 shares, compared to its average volume of 89,683. The stock has a market cap of $1,093.81, a price-to-earnings ratio of 17.09, a PEG ratio of 2.41 and a beta of 1.68. Standard Motor Products has a twelve month low of $40.56 and a twelve month high of $54.73.

In related news, Director John P. Gethin sold 5,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $49.50, for a total transaction of $247,500.00. Following the sale, the director now owns 20,850 shares in the company, valued at approximately $1,032,075. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.60% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. bought a new stake in shares of Standard Motor Products during the 4th quarter valued at about $239,000. SG Americas Securities LLC bought a new position in Standard Motor Products in the third quarter worth approximately $309,000. Teacher Retirement System of Texas bought a new position in Standard Motor Products in the fourth quarter worth approximately $320,000. Symons Capital Management Inc. bought a new position in Standard Motor Products in the fourth quarter worth approximately $362,000. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Standard Motor Products by 46.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,330 shares of the auto parts company’s stock worth $450,000 after acquiring an additional 2,980 shares in the last quarter. Institutional investors own 80.53% of the company’s stock.

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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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