$0.42 EPS Expected for SP Plus Corporation (SP) This Quarter
Equities analysts expect SP Plus Corporation (NASDAQ:SP) to post earnings per share (EPS) of $0.42 for the current quarter, Zacks reports. Two analysts have made estimates for SP Plus Corporation’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.44. SP Plus Corporation posted earnings per share of $0.37 in the same quarter last year, which would indicate a positive year over year growth rate of 13.5%. The firm is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that SP Plus Corporation will report full-year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.63 to $1.70. For the next fiscal year, analysts forecast that the company will report earnings of $1.82 per share, with EPS estimates ranging from $1.78 to $1.86. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow 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 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. SP Plus Corporation had a net margin of 2.36% and a return on equity of 13.82%. The firm had revenue of $415.40 million during the quarter, compared to analysts’ expectations of $223.35 million.
A number of brokerages have commented on SP. Zacks Investment Research lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine upgraded SP Plus Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, BidaskClub downgraded SP Plus Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st.
SP Plus Corporation (SP) traded down 0.54% during midday trading on Friday, reaching $36.90. 117,978 shares of the company’s stock traded hands. The firm’s 50-day moving average is $35.35 and its 200-day moving average is $32.60. SP Plus Corporation has a 1-year low of $22.60 and a 1-year high of $38.55. The company has a market capitalization of $819.25 million, a price-to-earnings ratio of 21.43 and a beta of 0.97.
In related news, Director Robert S. Roath sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $34.77, for a total value of $2,433,900.00. Following the transaction, the director now owns 36,936 shares in the company, valued at $1,284,264.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. 1st Global Advisors Inc. purchased a new position in SP Plus Corporation in the second quarter valued at approximately $352,000. Susquehanna International Group LLP purchased a new position in SP Plus Corporation in the second quarter valued at approximately $555,000. The Manufacturers Life Insurance Company lifted its stake in SP Plus Corporation by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 13,989 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 197 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in SP Plus Corporation by 75.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 61,598 shares of the business services provider’s stock valued at $1,882,000 after purchasing an additional 26,483 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in SP Plus Corporation in the second quarter valued at approximately $221,000. Institutional investors and hedge funds own 94.68% 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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