What is Zacks Research’s Estimate for SMP FY2024 Earnings?

Standard Motor Products, Inc. (NYSE:SMP) – Investment analysts at Zacks Research upped their FY2024 earnings estimates for Standard Motor Products in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst L. Shahu now forecasts that the auto parts company will earn $3.08 per share for the year, up from their previous forecast of $3.00. The consensus estimate for Standard Motor Products’ current full-year earnings is $3.05 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) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company had revenue of $399.27 million for the quarter, compared to analyst estimates of $396.10 million. During the same period in the prior year, the firm earned $1.11 earnings per share. Standard Motor Products’s revenue for the quarter was up 3.3% on a year-over-year basis.

Standard Motor Products Stock Performance

Shares of Standard Motor Products stock opened at $33.14 on Friday. Standard Motor Products has a 52 week low of $26.09 and a 52 week high of $41.71. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $32.25 and a 200-day moving average price of $31.04. The company has a market cap of $719.80 million, a PE ratio of 20.46 and a beta of 0.51.

Hedge Funds Weigh In On Standard Motor Products

Several institutional investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC raised its stake in shares of Standard Motor Products by 47.1% in the third quarter. Rice Hall James & Associates LLC now owns 99,345 shares of the auto parts company’s stock valued at $3,298,000 after buying an additional 31,826 shares during the period. Royce & Associates LP raised its stake in Standard Motor Products by 6.0% in the 3rd quarter. Royce & Associates LP now owns 1,295,997 shares of the auto parts company’s stock valued at $43,027,000 after acquiring an additional 73,476 shares during the period. Farther Finance Advisors LLC purchased a new stake in Standard Motor Products during the third quarter valued at about $73,000. Cornercap Investment Counsel Inc. boosted its position in Standard Motor Products by 83.4% during the second quarter. Cornercap Investment Counsel Inc. now owns 48,025 shares of the auto parts company’s stock worth $1,332,000 after purchasing an additional 21,843 shares during the period. Finally, Azarias Capital Management L.P. bought a new position in Standard Motor Products during the second quarter worth about $11,197,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Insider Transactions at Standard Motor Products

In related news, insider Carmine Joseph Broccole sold 913 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.96, for a total transaction of $31,918.48. Following the completion of the sale, the insider now owns 81,241 shares in the company, valued at approximately $2,840,185.36. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Dale Burks sold 1,722 shares of Standard Motor Products stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.96, for a total transaction of $60,201.12. Following the completion of the sale, the executive vice president now directly owns 67,865 shares in the company, valued at approximately $2,372,560.40. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,454 shares of company stock worth $225,701 in the last 90 days. Insiders own 5.00% of the company’s stock.

Standard Motor Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 3.50%. Standard Motor Products’s dividend payout ratio is currently 71.61%.

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.