$0.40 EPS Expected for SP Plus Corp (SP) This Quarter

Brokerages predict that SP Plus Corp (NASDAQ:SP) will post earnings of $0.40 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SP Plus’ earnings. The highest EPS estimate is $0.43 and the lowest is $0.36. SP Plus posted earnings of $0.52 per share in the same quarter last year, which suggests a negative year over year growth rate of 23.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 28th.

On average, analysts expect that SP Plus will report full year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.67 to $1.73. For the next financial year, analysts expect that the firm will post earnings of $1.86 per share, with EPS estimates ranging from $1.78 to $1.94. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for SP Plus.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $392.70 million for the quarter, compared to analyst estimates of $228.10 million. SP Plus had a net margin of 2.64% and a return on equity of 14.29%.

A number of brokerages have issued reports on SP. BidaskClub raised shares of SP Plus from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine lowered shares of SP Plus from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of SP Plus from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th.

Shares of SP Plus (NASDAQ:SP) traded up $0.70 during trading on Tuesday, reaching $41.35. 190,012 shares of the company’s stock were exchanged, compared to its average volume of 113,939. The company has a market cap of $931.24, a price-to-earnings ratio of 21.54, a PEG ratio of 2.22 and a beta of 1.00. SP Plus has a 1-year low of $27.05 and a 1-year high of $41.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.82 and a current ratio of 0.82.

In other news, major shareholder Walter S. Woltosz sold 18,500 shares of SP Plus stock in a transaction dated Saturday, October 28th. The shares were sold at an average price of $16.37, for a total transaction of $302,845.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of SP Plus by 1.4% during the 2nd 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 in the last quarter. Legal & General Group Plc boosted its stake in shares of SP Plus by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 200 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of SP Plus by 3.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,330 shares of the business services provider’s stock valued at $316,000 after purchasing an additional 348 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of SP Plus by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 13,736 shares of the business services provider’s stock valued at $420,000 after purchasing an additional 400 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of SP Plus by 2.0% during the 2nd quarter. Teachers Advisors LLC now owns 30,055 shares of the business services provider’s stock valued at $918,000 after purchasing an additional 577 shares in the last quarter. 96.53% of the stock is currently owned by hedge funds and other institutional investors.

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SP Plus Company Profile

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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