Standard Motor Products (NYSE:SMP) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Standard Motor Products (NYSE:SMP) announced its earnings results on Thursday. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.20, Briefing.com reports. Standard Motor Products had a return on equity of 9.90% and a net margin of 2.79%. The company had revenue of $389.80 million for the quarter, compared to analysts’ expectations of $365.60 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Standard Motor Products’s quarterly revenue was up 10.4% on a year-over-year basis.

Standard Motor Products Price Performance

Shares of SMP traded down $0.31 during midday trading on Friday, hitting $32.69. 181,677 shares of the company traded hands, compared to its average volume of 150,960. The stock has a 50-day moving average of $29.51 and a 200-day moving average of $32.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 0.92. Standard Motor Products has a one year low of $26.09 and a one year high of $41.71. The firm has a market cap of $713.30 million, a P/E ratio of 23.52 and a beta of 0.52.

Standard Motor Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, August 15th. Standard Motor Products’s dividend payout ratio (DPR) is presently 83.45%.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated a “buy” rating and issued a $42.00 target price on shares of Standard Motor Products in a report on Thursday, May 23rd.

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.