SP Plus Co. Expected to Post FY2021 Earnings of $1.59 Per Share (NASDAQ:SP)


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SP Plus Co. (NASDAQ:SP) – Stock analysts at William Blair reduced their FY2021 earnings per share estimates for shares of SP Plus in a research note issued on Monday, January 11th. William Blair analyst T. Mulrooney now forecasts that the business services provider will post earnings of $1.59 per share for the year, down from their previous estimate of $1.62.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered SP Plus from a “strong-buy” rating to a “hold” rating in a report on Thursday. BidaskClub upgraded SP Plus from a “hold” rating to a “buy” rating in a research note on Thursday, November 5th. ValuEngine raised SP Plus from a “sell” rating to a “hold” rating in a research report on Tuesday, November 10th. Finally, Barrington Research increased their price target on SP Plus from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $36.33.

Shares of NASDAQ:SP opened at $30.67 on Thursday. SP Plus has a 1-year low of $14.44 and a 1-year high of $46.65. The firm has a market capitalization of $708.11 million, a PE ratio of -10.26 and a beta of 1.30. The business’s 50 day moving average is $29.35 and its 200-day moving average is $21.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.32.

SP Plus (NASDAQ:SP) last announced its earnings results on Thursday, November 5th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.96. The company had revenue of $118.20 million during the quarter, compared to analyst estimates of $125.00 million. SP Plus had a negative net margin of 4.28% and a positive return on equity of 7.37%.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of SP Plus by 181.4% in the second quarter. Bank of Montreal Can now owns 3,216 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 2,073 shares during the period. Vanguard Group Inc. grew its position in shares of SP Plus by 1.8% during the second quarter. Vanguard Group Inc. now owns 1,134,004 shares of the business services provider’s stock worth $23,485,000 after acquiring an additional 20,112 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of SP Plus by 2.4% during the third quarter. Wedge Capital Management L L P NC now owns 329,943 shares of the business services provider’s stock worth $5,922,000 after acquiring an additional 7,860 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in SP Plus in the 2nd quarter valued at $247,000. Finally, Private Advisor Group LLC purchased a new stake in shares of SP Plus during the 2nd quarter worth $91,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

In other news, insider John Ricchiuto sold 2,500 shares of the company’s stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $28.93, for a total transaction of $72,325.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

About SP Plus

SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services in North America. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, baggage handling, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services.

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