Jefferies Financial Group Comments on Standard Motor Products, Inc.’s Q2 2019 Earnings (NYSE:SMP)

Standard Motor Products, Inc. (NYSE:SMP) – Equities researchers at Jefferies Financial Group reduced their Q2 2019 earnings per share estimates for shares of Standard Motor Products in a research note issued on Wednesday, July 17th. Jefferies Financial Group analyst B. Jordan now forecasts that the auto parts company will post earnings of $0.80 per share for the quarter, down from their previous forecast of $0.84. Jefferies Financial Group also issued estimates for Standard Motor Products’ FY2019 earnings at $2.97 EPS, Q2 2020 earnings at $0.96 EPS and FY2020 earnings at $3.51 EPS.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.03). The firm had revenue of $283.80 million for the quarter, compared to the consensus estimate of $278.13 million. Standard Motor Products had a return on equity of 13.02% and a net margin of 4.24%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share.



SMP stock opened at $44.89 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.62 and a current ratio of 1.68. The company has a 50 day moving average of $44.47. The company has a market capitalization of $1.00 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. Standard Motor Products has a twelve month low of $42.03 and a twelve month high of $56.54.

A number of hedge funds have recently bought and sold shares of the business. Bank of Montreal Can lifted its position in shares of Standard Motor Products by 18.0% in the first quarter. Bank of Montreal Can now owns 1,272 shares of the auto parts company’s stock valued at $62,000 after buying an additional 194 shares during the last quarter. Citigroup Inc. lifted its position in shares of Standard Motor Products by 1.6% in the fourth quarter. Citigroup Inc. now owns 13,268 shares of the auto parts company’s stock valued at $643,000 after buying an additional 207 shares during the last quarter. Mason Street Advisors LLC lifted its position in shares of Standard Motor Products by 3.4% in the first quarter. Mason Street Advisors LLC now owns 6,485 shares of the auto parts company’s stock valued at $318,000 after buying an additional 215 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of Standard Motor Products by 6.0% in the first quarter. Piedmont Investment Advisors Inc. now owns 5,113 shares of the auto parts company’s stock valued at $251,000 after buying an additional 290 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Standard Motor Products by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,518 shares of the auto parts company’s stock valued at $703,000 after buying an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

In other Standard Motor Products news, VP Thomas Tesoro sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $44.25, for a total value of $309,750.00. Following the completion of the transaction, the vice president now directly owns 24,121 shares in the company, valued at $1,067,354.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lawrence I. Sills sold 13,713 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $45.60, for a total value of $625,312.80. Following the completion of the transaction, the insider now owns 664,612 shares of the company’s stock, valued at $30,306,307.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,536 shares of company stock valued at $1,494,933. Corporate insiders own 6.60% of the company’s stock.

Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.

Recommended Story: How to Invest in Growth Stocks

Earnings History and Estimates for Standard Motor Products (NYSE:SMP)

Receive News & Ratings for Standard Motor Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products and related companies with MarketBeat.com's FREE daily email newsletter.