Motorcar Parts of America, Inc. (NASDAQ:MPAA) Expected to Post Earnings of $0.45 Per Share

Wall Street analysts expect that Motorcar Parts of America, Inc. (NASDAQ:MPAA) will report $0.45 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Motorcar Parts of America’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.37. Motorcar Parts of America reported earnings of $0.73 per share in the same quarter last year, which would indicate a negative year over year growth rate of 38.4%. The firm is scheduled to issue its next earnings results on Monday, November 8th.

On average, analysts expect that Motorcar Parts of America will report full-year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $2.21. For the next fiscal year, analysts expect that the business will report earnings of $2.44 per share, with EPS estimates ranging from $2.38 to $2.54. Zacks’ EPS averages are an average based on a survey of analysts that follow Motorcar Parts of America.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings results on Sunday, August 8th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.20. Motorcar Parts of America had a net margin of 4.26% and a return on equity of 13.39%. The business had revenue of $149.03 million for the quarter, compared to analyst estimates of $120.40 million.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a research note on Tuesday, August 10th. Roth Capital upped their price objective on shares of Motorcar Parts of America from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, June 16th. Finally, B. Riley upped their price objective on shares of Motorcar Parts of America from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, June 15th.

Shares of MPAA stock traded up $0.22 during trading hours on Tuesday, reaching $18.63. 85,926 shares of the stock traded hands, compared to its average volume of 70,587. Motorcar Parts of America has a 1-year low of $14.35 and a 1-year high of $26.42. The business has a fifty day moving average price of $21.24 and a 200 day moving average price of $22.22. The company has a quick ratio of 0.36, a current ratio of 1.31 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $356.19 million, a PE ratio of 14.33 and a beta of 1.80.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its stake in Motorcar Parts of America by 3.1% during the 1st quarter. Prudential Financial Inc. now owns 22,002 shares of the auto parts company’s stock valued at $495,000 after purchasing an additional 662 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Motorcar Parts of America by 4.9% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 21,399 shares of the auto parts company’s stock valued at $481,000 after purchasing an additional 999 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Motorcar Parts of America by 9.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,371 shares of the auto parts company’s stock valued at $278,000 after purchasing an additional 1,105 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Motorcar Parts of America by 10.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 11,954 shares of the auto parts company’s stock valued at $268,000 after purchasing an additional 1,142 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Motorcar Parts of America by 0.9% during the 2nd quarter. Principal Financial Group Inc. now owns 132,139 shares of the auto parts company’s stock valued at $2,965,000 after purchasing an additional 1,165 shares during the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

About Motorcar Parts of America

Motorcar Parts of America, Inc engages in manufacturing, remanufacturing, and distribution of automotive parts. Its products include starters, alternators, wheel hub assemblies and bearings, drums and rotors, brake pads and shoes, calipers, brake master cylinders, brake power boosters, and turbochargers.

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Earnings History and Estimates for Motorcar Parts of America (NASDAQ:MPAA)

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