Q2 2024 EPS Estimates for Standard Motor Products, Inc. (NYSE:SMP) Decreased by Analyst

Standard Motor Products, Inc. (NYSE:SMP) – Equities researchers at Roth Capital decreased their Q2 2024 earnings estimates for Standard Motor Products in a report released on Wednesday, May 1st. Roth Capital analyst S. Stember now expects that the auto parts company will post earnings per share of $0.74 for the quarter, down from their previous forecast of $0.76. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.02 per share. Roth Capital also issued estimates for Standard Motor Products’ Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.51 EPS and Q4 2025 earnings at $0.78 EPS.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Standard Motor Products had a net margin of 2.28% and a return on equity of 9.48%. The business had revenue of $331.40 million during the quarter, compared to analyst estimates of $321.84 million. During the same period last year, the business earned $0.61 EPS. The business’s revenue was up 1.0% on a year-over-year basis.

Other equities research analysts have also issued research reports about the company. TheStreet lowered Standard Motor Products from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Friday, March 29th.

Standard Motor Products Stock Up 0.6 %

Shares of Standard Motor Products stock opened at $32.35 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.66 and a quick ratio of 0.78. Standard Motor Products has a 1-year low of $30.09 and a 1-year high of $41.71. The business has a 50-day moving average of $32.31 and a 200-day moving average of $35.89. The company has a market capitalization of $705.88 million, a PE ratio of 23.27 and a beta of 0.61.

Institutional Trading of Standard Motor Products

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Standard Motor Products by 145.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 556 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Standard Motor Products during the third quarter worth $85,000. Gladius Capital Management LP bought a new position in Standard Motor Products during the fourth quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Standard Motor Products by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,325 shares of the auto parts company’s stock worth $145,000 after purchasing an additional 555 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Standard Motor Products by 3,928.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,673 shares of the auto parts company’s stock valued at $186,000 after purchasing an additional 4,557 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Tuesday, May 14th. Standard Motor Products’s payout ratio is currently 83.45%.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.