Q2 2024 EPS Estimates for SP Plus Co. (NASDAQ:SP) Cut by William Blair

SP Plus Co. (NASDAQ:SP) – Equities research analysts at William Blair cut their Q2 2024 earnings per share estimates for shares of SP Plus in a research note issued on Thursday, May 2nd. William Blair analyst T. Mulrooney now forecasts that the business services provider will post earnings per share of $0.73 for the quarter, down from their prior forecast of $0.81. The consensus estimate for SP Plus’ current full-year earnings is $3.26 per share. William Blair also issued estimates for SP Plus’ FY2024 earnings at $3.01 EPS and FY2025 earnings at $3.57 EPS.

A number of other research analysts have also weighed in on SP. TheStreet lowered shares of SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th. StockNews.com started coverage on shares of SP Plus in a research note on Tuesday, April 30th. They issued a “hold” rating on the stock.

SP Plus Trading Up 0.0 %

SP stock opened at $51.51 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34. SP Plus has a 12-month low of $33.10 and a 12-month high of $52.56. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 33.89 and a beta of 1.22. The business’s 50-day moving average is $51.62 and its 200 day moving average is $51.30.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.25). SP Plus had a return on equity of 22.21% and a net margin of 1.68%. The firm had revenue of $217.20 million during the quarter, compared to analyst estimates of $235.44 million.

Hedge Funds Weigh In On SP Plus

A number of institutional investors and hedge funds have recently modified their holdings of SP. Parallel Advisors LLC lifted its position in SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new stake in SP Plus in the fourth quarter valued at $61,000. Quest Partners LLC purchased a new stake in shares of SP Plus in the fourth quarter valued at about $73,000. Quantbot Technologies LP purchased a new stake in shares of SP Plus in the third quarter valued at about $101,000. Finally, SG Americas Securities LLC purchased a new stake in shares of SP Plus in the third quarter valued at about $108,000. Institutional investors and hedge funds own 93.98% of the company’s stock.

SP Plus Company Profile

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.