Standard Motor Products (NYSE:SMP) Announces Earnings Results, Beats Estimates By $0.40 EPS

Standard Motor Products (NYSE:SMP) issued its quarterly earnings results on Tuesday. The auto parts company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.40, MarketWatch Earnings reports. Standard Motor Products had a net margin of 5.50% and a return on equity of 13.88%. The business had revenue of $282.70 million for the quarter, compared to analysts’ expectations of $254.29 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year.

Shares of NYSE SMP traded down $0.99 during mid-day trading on Tuesday, reaching $41.48. 4,144 shares of the company’s stock traded hands, compared to its average volume of 130,031. Standard Motor Products has a 1-year low of $33.94 and a 1-year high of $55.29. The business has a 50-day simple moving average of $41.85 and a 200 day simple moving average of $45.26. The stock has a market cap of $931.06 million, a P/E ratio of 16.21 and a beta of 0.47.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Tuesday, February 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, February 12th. Standard Motor Products’s dividend payout ratio (DPR) is 32.26%.

Several equities research analysts recently commented on the company. Jefferies Financial Group decreased their target price on Standard Motor Products from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, December 18th. TheStreet downgraded shares of Standard Motor Products from a “b-” rating to a “c+” rating in a research report on Friday, January 15th. Finally, Zacks Investment Research upgraded shares of Standard Motor Products from a “strong sell” rating to a “hold” rating and set a $43.00 target price on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Standard Motor Products has a consensus rating of “Buy” and a consensus price target of $48.75.

Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The Engine Management segment offers components for the ignition, electrical, emissions, fuel and safety-related systems of motor vehicles under the Standard, SMP Blue Streak, Intermotor, Standard Diesel, BWD Select, BWD, OEM, TechSmart, Tech Expert, GP Sorensen, LockSmart, and Pollak brand names, as well as under private labels comprising NAPA Echlin and NAPA Belden.

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