Roth Capital Comments on Standard Motor Products, Inc.’s Q3 2024 Earnings (NYSE:SMP)

Standard Motor Products, Inc. (NYSE:SMP) – Equities researchers at Roth Capital lowered their Q3 2024 earnings per share estimates for shares of Standard Motor Products in a research report issued on Wednesday, May 1st. Roth Capital analyst S. Stember now forecasts that the auto parts company will post earnings of $1.31 per share for the quarter, down from their prior estimate of $1.33. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.02 per share.

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

SMP has been the topic of several other research reports. TheStreet lowered Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Standard Motor Products Stock Down 0.9 %

Shares of SMP opened at $32.15 on Monday. The stock has a market capitalization of $701.51 million, a price-to-earnings ratio of 23.13 and a beta of 0.61. Standard Motor Products has a 1 year low of $30.09 and a 1 year high of $41.71. The business’s 50 day simple moving average is $32.29 and its 200-day simple moving average is $35.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.66 and a quick ratio of 0.92.

Standard Motor Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 annualized dividend and a yield of 3.61%. Standard Motor Products’s payout ratio is presently 83.45%.

Hedge Funds Weigh In On Standard Motor Products

Several hedge funds have recently bought and sold shares of SMP. SG Americas Securities LLC bought a new position in Standard Motor Products in the 3rd quarter valued at $415,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Standard Motor Products by 14.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,325 shares of the auto parts company’s stock valued at $145,000 after acquiring an additional 555 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Standard Motor Products by 145.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 556 shares during the last quarter. Teacher Retirement System of Texas grew its position in Standard Motor Products by 15.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,696 shares of the auto parts company’s stock valued at $561,000 after acquiring an additional 2,277 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in Standard Motor Products in the 3rd quarter valued at $2,536,000. Institutional investors 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.