Standard Motor Products, Inc. (NYSE:SMP) Forecasted to Earn Q3 2024 Earnings of $1.31 Per Share

Standard Motor Products, Inc. (NYSE:SMP) – Stock analysts at Roth Capital lowered their Q3 2024 EPS estimates for Standard Motor Products in a research report issued on Wednesday, May 1st. Roth Capital analyst S. Stember now expects that the auto parts company will earn $1.31 per share for the quarter, down from their previous estimate of $1.33. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.02 per share.

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

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

Standard Motor Products Stock Performance

Shares of SMP stock opened at $32.35 on Monday. The company has a current ratio of 2.66, a quick ratio of 0.78 and a debt-to-equity ratio of 0.32. The company has a market cap of $705.88 million, a PE ratio of 23.27 and a beta of 0.61. Standard Motor Products has a 12-month low of $30.09 and a 12-month high of $41.71. The business’s fifty day simple moving average is $32.31 and its 200-day simple moving average is $35.91.

Institutional Trading of Standard Motor Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in Standard Motor Products by 145.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 556 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Standard Motor Products during the third quarter valued at $85,000. Gladius Capital Management LP purchased a new position in shares of Standard Motor Products in the 4th quarter valued at about $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 valued at $145,000 after buying an additional 555 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Standard Motor Products by 3,928.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,673 shares of the auto parts company’s stock worth $186,000 after buying an additional 4,557 shares during the period. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 annualized dividend and a yield of 3.59%. Standard Motor Products’s dividend payout ratio (DPR) is presently 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.