Wall Street analysts expect that SP Plus Corp (NASDAQ:SP) will post earnings of $0.61 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for SP Plus’ earnings. SP Plus posted earnings per share of $0.50 in the same quarter last year, which would indicate a positive year-over-year growth rate of 22%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that SP Plus will report full-year earnings of $2.27 per share for the current financial year, with EPS estimates ranging from $2.23 to $2.30. For the next financial year, analysts forecast that the company will post earnings of $2.42 per share, with EPS estimates ranging from $2.36 to $2.47. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for SP Plus.
SP Plus (NASDAQ:SP) last announced its earnings results on Tuesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. SP Plus had a return on equity of 14.06% and a net margin of 3.28%. The company had revenue of $362.20 million for the quarter, compared to the consensus estimate of $191.95 million.
SP has been the topic of several analyst reports. Zacks Investment Research upgraded SP Plus from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Thursday, May 17th. BidaskClub downgraded SP Plus from a “hold” rating to a “sell” rating in a research note on Thursday, May 24th. ValuEngine upgraded SP Plus from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, Barrington Research lifted their price target on SP Plus from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, August 6th.
Shares of SP stock opened at $37.45 on Friday. SP Plus has a twelve month low of $32.15 and a twelve month high of $41.70. The company has a market capitalization of $863.72 million, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.68 and a beta of 1.06. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30.
In other news, CEO G Marc Baumann sold 1,000 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $36.95, for a total value of $36,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas L. Hagerman sold 3,918 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $39.25, for a total value of $153,781.50. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new stake in shares of SP Plus in the first quarter valued at $107,000. SG Americas Securities LLC purchased a new stake in shares of SP Plus in the first quarter valued at $147,000. WINTON GROUP Ltd purchased a new stake in shares of SP Plus in the first quarter valued at $217,000. Citigroup Inc. grew its position in shares of SP Plus by 61.4% in the first quarter. Citigroup Inc. now owns 6,972 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 2,652 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of SP Plus by 30.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 1,744 shares during the period. 96.37% of the stock is owned by institutional investors and hedge funds.
SP Plus Company Profile
SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.
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