Brokerages Expect SP Plus Corp (SP) to Post $0.45 Earnings Per Share

SP Plus Corp (NASDAQ:SP) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price target of $45.50 for the company and are anticipating that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also assigned SP Plus an industry rank of 49 out of 255 based on the ratings given to its competitors.

Several brokerages have commented on SP. Zacks Investment Research downgraded SP Plus from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine downgraded SP Plus from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. BidaskClub downgraded SP Plus from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Barrington Research reiterated a “buy” rating and set a $43.00 price target on shares of SP Plus in a research report on Friday, February 22nd.

Shares of SP opened at $34.35 on Friday. SP Plus has a fifty-two week low of $27.13 and a fifty-two week high of $41.35. The stock has a market capitalization of $782.96 million, a P/E ratio of 14.68, a PEG ratio of 1.31 and a beta of 1.05. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

SP Plus (NASDAQ:SP) last announced its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. SP Plus had a return on equity of 15.11% and a net margin of 3.62%. The company had revenue of $377.30 million during the quarter, compared to analyst estimates of $192.13 million. Sell-side analysts expect that SP Plus will post 2.61 earnings per share for the current year.

In other news, EVP John Ricchiuto sold 4,913 shares of SP Plus stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $36.08, for a total transaction of $177,261.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Toy sold 2,500 shares of SP Plus stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $33.04, for a total value of $82,600.00. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in SP Plus by 57.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,279 shares of the business services provider’s stock worth $38,000 after buying an additional 467 shares during the last quarter. Quantamental Technologies LLC bought a new stake in SP Plus in the 4th quarter worth approximately $58,000. Legal & General Group Plc lifted its position in SP Plus by 18.2% in the 4th quarter. Legal & General Group Plc now owns 4,234 shares of the business services provider’s stock worth $125,000 after buying an additional 653 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in SP Plus by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock worth $220,000 after buying an additional 5,828 shares during the last quarter. Finally, Citigroup Inc. lifted its position in SP Plus by 15.0% in the 4th quarter. Citigroup Inc. now owns 8,336 shares of the business services provider’s stock worth $246,000 after buying an additional 1,088 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

SP Plus Company Profile

SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services to commercial, hospitality, institutional, municipal and governmental, and aviation clients in the United States, Canada, and Puerto Rico. 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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