SP Plus Co. (NASDAQ:SP) Expected to Announce Earnings of $0.49 Per Share

Analysts expect SP Plus Co. (NASDAQ:SP) to post earnings per share of $0.49 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for SP Plus’ earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.40. SP Plus posted earnings of $0.62 per share during the same quarter last year, which would indicate a negative year over year growth rate of 21%. The firm is scheduled to announce its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that SP Plus will report full-year earnings of $1.71 per share for the current financial year, with EPS estimates ranging from $1.61 to $1.80. For the next financial year, analysts expect that the business will report earnings of $2.42 per share, with EPS estimates ranging from $2.33 to $2.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow SP Plus.

SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Tuesday, July 27th. The business services provider reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.25. SP Plus had a positive return on equity of 16.16% and a negative net margin of 7.66%. The firm had revenue of $141.20 million during the quarter, compared to analyst estimates of $136.93 million.

A number of brokerages have recently issued reports on SP. Zacks Investment Research downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a report on Tuesday, October 5th. Barrington Research reaffirmed a “buy” rating and set a $42.00 price target on shares of SP Plus in a report on Wednesday, August 18th.

NASDAQ:SP traded up $0.53 during midday trading on Thursday, reaching $29.95. 189 shares of the stock traded hands, compared to its average volume of 101,544. The company has a fifty day moving average of $31.13 and a 200 day moving average of $31.86. SP Plus has a 12 month low of $17.02 and a 12 month high of $36.71. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market capitalization of $695.41 million, a P/E ratio of -8.23 and a beta of 1.68.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC raised its stake in SP Plus by 8.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 37,451 shares of the business services provider’s stock worth $1,146,000 after acquiring an additional 2,893 shares during the period. Morgan Stanley grew its holdings in shares of SP Plus by 267.7% in the second quarter. Morgan Stanley now owns 159,128 shares of the business services provider’s stock valued at $4,868,000 after purchasing an additional 115,851 shares in the last quarter. Invesco Ltd. grew its holdings in shares of SP Plus by 4.8% in the second quarter. Invesco Ltd. now owns 60,129 shares of the business services provider’s stock valued at $1,840,000 after purchasing an additional 2,778 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its stake in SP Plus by 106,057.1% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,431 shares of the business services provider’s stock worth $227,000 after buying an additional 7,424 shares during the period. Finally, Man Group plc purchased a new position in SP Plus during the second quarter worth $496,000. Institutional investors own 88.15% of the company’s stock.

About SP Plus

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The firm operates through the following segments: Commercial, Aviation, and Other.

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

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