Zacks Research Issues Optimistic Forecast for SMP Earnings

Standard Motor Products, Inc. (NYSE:SMP) – Investment analysts at Zacks Research raised their FY2024 earnings per share estimates for Standard Motor Products in a report issued on Wednesday, November 20th. Zacks Research analyst L. Shahu now anticipates that the auto parts company will post earnings of $3.08 per share for the year, up from their prior estimate of $3.00. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.05 per share. Zacks Research also issued estimates for Standard Motor Products’ Q4 2024 earnings at $0.37 EPS, Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.20 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $3.42 EPS, Q1 2026 earnings at $0.75 EPS, Q2 2026 earnings at $1.00 EPS, Q3 2026 earnings at $1.22 EPS and FY2026 earnings at $3.72 EPS.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $399.27 million during the quarter, compared to the consensus estimate of $396.10 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS.

Standard Motor Products Trading Up 3.0 %

Shares of NYSE:SMP opened at $33.14 on Friday. Standard Motor Products has a 52-week low of $26.09 and a 52-week high of $41.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. The company has a market capitalization of $719.80 million, a P/E ratio of 20.46 and a beta of 0.51. The company has a 50-day simple moving average of $32.25 and a 200 day simple moving average of $31.04.

Hedge Funds Weigh In On Standard Motor Products

A number of hedge funds have recently added to or reduced their stakes in the stock. Azarias Capital Management L.P. bought a new stake in shares of Standard Motor Products during the 2nd quarter worth approximately $11,197,000. Royce & Associates LP boosted its holdings in shares of Standard Motor Products by 6.0% in the 3rd quarter. Royce & Associates LP now owns 1,295,997 shares of the auto parts company’s stock valued at $43,027,000 after purchasing an additional 73,476 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Standard Motor Products by 19.5% in the 2nd quarter. American Century Companies Inc. now owns 338,931 shares of the auto parts company’s stock valued at $9,399,000 after purchasing an additional 55,327 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Standard Motor Products by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,442,712 shares of the auto parts company’s stock valued at $48,403,000 after purchasing an additional 49,905 shares during the last quarter. Finally, Barclays PLC raised its stake in Standard Motor Products by 359.9% during the third quarter. Barclays PLC now owns 48,522 shares of the auto parts company’s stock worth $1,609,000 after acquiring an additional 37,971 shares in the last quarter. Institutional investors own 81.26% of the company’s stock.

Insider Transactions at Standard Motor Products

In other news, insider Carmine Joseph Broccole sold 913 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.96, for a total transaction of $31,918.48. Following the completion of the sale, the insider now owns 81,241 shares in the company, valued at $2,840,185.36. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Nathan R. Iles sold 1,485 shares of Standard Motor Products stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.97, for a total value of $51,930.45. Following the sale, the chief financial officer now directly owns 29,015 shares of the company’s stock, valued at approximately $1,014,654.55. The trade was a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,454 shares of company stock worth $225,701. 5.00% of the stock is owned by company insiders.

Standard Motor Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.50%. Standard Motor Products’s payout ratio is 71.61%.

Standard Motor Products Company Profile

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.