FY2018 EPS Estimates for SP Plus Corp Reduced by Analyst (SP)

SP Plus Corp (NASDAQ:SP) – Investment analysts at William Blair decreased their FY2018 earnings per share estimates for SP Plus in a report issued on Thursday, November 1st. William Blair analyst T. Mulrooney now forecasts that the business services provider will earn $2.23 per share for the year, down from their previous estimate of $2.30. William Blair also issued estimates for SP Plus’ Q4 2018 earnings at $0.47 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.59 EPS and FY2019 earnings at $2.42 EPS.

SP has been the subject of a number of other reports. ValuEngine downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Barrington Research reiterated a “buy” rating and set a $43.00 price target on shares of SP Plus in a report on Friday, October 19th. BidaskClub downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a report on Saturday, August 25th. Zacks Investment Research downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Sidoti lowered their price target on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.00.

Shares of NASDAQ SP opened at $31.95 on Monday. The stock has a market cap of $710.07 million, a PE ratio of 18.79, a PEG ratio of 1.40 and a beta of 1.11. SP Plus has a 12 month low of $30.49 and a 12 month high of $41.70. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.30.

SP Plus (NASDAQ:SP) last posted its earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. SP Plus had a net margin of 3.50% and a return on equity of 14.84%. The firm had revenue of $362.10 million during the quarter, compared to the consensus estimate of $190.74 million.

In related news, CEO G Marc Baumann sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $36.50, for a total value of $36,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of SP Plus by 25.7% in the second quarter. BlackRock Inc. now owns 1,528,683 shares of the business services provider’s stock worth $56,867,000 after acquiring an additional 312,323 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SP Plus by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,166,230 shares of the business services provider’s stock worth $43,384,000 after acquiring an additional 63,673 shares during the last quarter. Dudley & Shanley Inc. boosted its position in shares of SP Plus by 33.4% in the second quarter. Dudley & Shanley Inc. now owns 679,515 shares of the business services provider’s stock worth $25,278,000 after acquiring an additional 170,259 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of SP Plus by 10.0% in the second quarter. Renaissance Technologies LLC now owns 599,500 shares of the business services provider’s stock worth $22,301,000 after acquiring an additional 54,400 shares during the last quarter. Finally, Investment Counselors of Maryland LLC boosted its position in shares of SP Plus by 5.3% in the third quarter. Investment Counselors of Maryland LLC now owns 483,935 shares of the business services provider’s stock worth $17,664,000 after acquiring an additional 24,328 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

About SP Plus

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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Earnings History and Estimates for SP Plus (NASDAQ:SP)

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