Wall Street brokerages expect SP Plus Corporation (NASDAQ:SP) to announce sales of $221.50 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for SP Plus Corporation’s earnings. The highest sales estimate is $223.80 million and the lowest is $219.20 million. SP Plus Corporation posted sales of $409.10 million in the same quarter last year, which suggests a negative year over year growth rate of 45.9%. The business is expected to announce its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that SP Plus Corporation will report full year sales of $221.50 million for the current fiscal year, with estimates ranging from $880.50 million to $892.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $905.49 million per share, with estimates ranging from $897.57 million to $913.40 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for SP Plus Corporation.

SP Plus Corporation (NASDAQ:SP) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The business had revenue of $415.40 million for the quarter, compared to the consensus estimate of $223.35 million. SP Plus Corporation had a net margin of 2.36% and a return on equity of 13.82%.

SP has been the topic of several research analyst reports. Zacks Investment Research raised shares of SP Plus Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday. ValuEngine raised shares of SP Plus Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Finally, BidaskClub cut shares of SP Plus Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th.

In related news, major shareholder Cpc Rep L.L.C. Kohlberg sold 2,625,415 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $29.20, for a total value of $76,662,118.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SP. Schwab Charles Investment Management Inc. raised its position in SP Plus Corporation by 134.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 180,664 shares of the business services provider’s stock valued at $5,520,000 after buying an additional 103,573 shares during the last quarter. Wedge Capital Management L L P NC raised its position in SP Plus Corporation by 18.7% in the second quarter. Wedge Capital Management L L P NC now owns 623,290 shares of the business services provider’s stock valued at $19,042,000 after buying an additional 98,127 shares during the last quarter. Nuveen Asset Management LLC raised its position in SP Plus Corporation by 36.9% in the first quarter. Nuveen Asset Management LLC now owns 331,891 shares of the business services provider’s stock valued at $11,201,000 after buying an additional 89,455 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in SP Plus Corporation during the first quarter valued at approximately $2,664,000. Finally, Investment Counselors of Maryland LLC raised its position in SP Plus Corporation by 11.7% in the second quarter. Investment Counselors of Maryland LLC now owns 712,112 shares of the business services provider’s stock valued at $21,755,000 after buying an additional 74,441 shares during the last quarter. Hedge funds and other institutional investors own 74.75% of the company’s stock.

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About SP Plus Corporation

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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