Q2 2024 Earnings Forecast for Standard Motor Products, Inc. Issued By Roth Capital (NYSE:SMP)

Standard Motor Products, Inc. (NYSE:SMP) – Equities research analysts at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for shares of Standard Motor Products in a research note issued to investors on Wednesday, May 1st. Roth Capital analyst S. Stember now anticipates that the auto parts company will post earnings per share of $0.74 for the quarter, down from their prior forecast of $0.76. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.02 per share. Roth Capital also issued estimates for Standard Motor Products’ Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.51 EPS and Q4 2025 earnings at $0.78 EPS.

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

A number of other research firms have also recently weighed in on SMP. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. TheStreet downgraded Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd.

Standard Motor Products Price Performance

Standard Motor Products stock opened at $32.35 on Friday. 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 fifty day simple moving average of $32.31 and a 200-day simple moving average of $35.89. The stock has a market cap of $705.88 million, a P/E 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.

Hedge Funds Weigh In On Standard Motor Products

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Standard Motor Products by 145.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock worth $32,000 after buying an additional 556 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Standard Motor Products in the 3rd quarter valued at $85,000. Gladius Capital Management LP purchased a new stake in Standard Motor Products in the 4th quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Standard Motor Products by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,325 shares of the auto parts company’s stock worth $145,000 after purchasing an additional 555 shares during the period. Finally, International Assets Investment Management LLC grew its position in 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 purchasing an additional 4,557 shares during the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Announces Dividend

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