Zacks Research Has Bullish Forecast for SMP FY2024 Earnings

Standard Motor Products, Inc. (NYSE:SMP - Free Report) - Research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Standard Motor Products in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst L. Shahu now anticipates that the auto parts company will post earnings per share of $3.08 for the year, up from their prior estimate of $3.00. The consensus estimate for Standard Motor Products' current full-year earnings is $3.03 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 - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $399.27 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS.

Standard Motor Products Stock Performance

SMP traded up $0.86 on Friday, hitting $33.03. The company had a trading volume of 53,270 shares, compared to its average volume of 155,028. The company's fifty day moving average price is $32.26 and its 200 day moving average price is $31.03. Standard Motor Products has a 1-year low of $26.09 and a 1-year high of $41.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. The stock has a market cap of $717.41 million, a price-to-earnings ratio of 19.78 and a beta of 0.51.

Standard Motor Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 3.51%. Standard Motor Products's dividend payout ratio (DPR) is currently 71.61%.

Insider Buying and Selling

In other news, CEO Eric Sills sold 1,721 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.97, for a total transaction of $60,183.37. Following the sale, the chief executive officer now directly owns 175,651 shares in the company, valued at approximately $6,142,515.47. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nathan R. Iles sold 1,485 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.97, for a total value of $51,930.45. Following the completion of the sale, the chief financial officer now owns 29,015 shares in the company, valued at $1,014,654.55. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,454 shares of company stock worth $225,701. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Standard Motor Products

Several large investors have recently made changes to their positions in SMP. Barclays PLC lifted its stake in Standard Motor Products by 359.9% in the third quarter. Barclays PLC now owns 48,522 shares of the auto parts company's stock valued at $1,609,000 after buying an additional 37,971 shares during the period. Geode Capital Management LLC raised its position in Standard Motor Products by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 485,299 shares of the auto parts company's stock valued at $16,115,000 after buying an additional 27,210 shares during the last quarter. State Street Corp raised its position in Standard Motor Products by 2.6% in the 3rd quarter. State Street Corp now owns 783,593 shares of the auto parts company's stock valued at $26,015,000 after buying an additional 19,652 shares during the last quarter. Readystate Asset Management LP acquired a new stake in Standard Motor Products in the 3rd quarter valued at approximately $649,000. Finally, HighTower Advisors LLC raised its position in Standard Motor Products by 0.5% in the 3rd quarter. HighTower Advisors LLC now owns 192,227 shares of the auto parts company's stock valued at $6,339,000 after buying an additional 958 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company's stock.

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.