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

Standard Motor Products, Inc. (NYSE:SMP) – Equities research analysts at Roth Capital cut their Q3 2024 earnings per share (EPS) estimates for Standard Motor Products in a note issued to investors on Wednesday, May 1st. Roth Capital analyst S. Stember now anticipates that the auto parts company will earn $1.31 per share for the quarter, down from their previous 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 announced its earnings results on Wednesday, May 1st. The auto parts company reported $0.45 earnings per share (EPS) 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 company had revenue of $331.40 million for the quarter, compared to the consensus estimate of $321.84 million. During the same period in the previous year, the business earned $0.61 EPS. The company’s revenue was up 1.0% on a year-over-year basis.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. TheStreet downgraded shares of Standard Motor Products from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd.

Standard Motor Products Price Performance

Shares of NYSE:SMP opened at $32.15 on Monday. The company’s fifty day moving average is $32.29 and its two-hundred day moving average is $35.92. The company has a quick ratio of 0.92, a current ratio of 2.66 and a debt-to-equity ratio of 0.32. Standard Motor Products has a 12-month low of $30.09 and a 12-month high of $41.71. The company has a market cap of $701.51 million, a P/E ratio of 23.13 and a beta of 0.61.

Hedge Funds Weigh In On Standard Motor Products

A number of hedge funds have recently modified their holdings of SMP. SG Americas Securities LLC acquired a new position in shares of Standard Motor Products in the third quarter worth $415,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Standard Motor Products by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,325 shares of the auto parts company’s stock worth $145,000 after acquiring an additional 555 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Standard Motor Products by 145.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 556 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Standard Motor Products by 15.8% in the third quarter. Teacher Retirement System of Texas now owns 16,696 shares of the auto parts company’s stock worth $561,000 after acquiring an additional 2,277 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Standard Motor Products in the third quarter worth $2,536,000. 81.26% of the stock is owned by institutional investors and hedge funds.

Standard Motor Products Announces Dividend

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

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.