Zacks: Brokerages Anticipate SP Plus Corp (SP) Will Announce Quarterly Sales of $230.80 Million

Wall Street analysts forecast that SP Plus Corp (NASDAQ:SP) will post sales of $230.80 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for SP Plus’ earnings. The highest sales estimate is $232.60 million and the lowest is $229.00 million. SP Plus posted sales of $414.50 million in the same quarter last year, which suggests a negative year over year growth rate of 44.3%. The company is scheduled to issue its next quarterly earnings results on Tuesday, May 1st.

On average, analysts expect that SP Plus will report full-year sales of $925.40 million for the current year, with estimates ranging from $920.80 million to $930.00 million. For the next year, analysts expect that the company will post sales of $949.35 million per share, with estimates ranging from $946.70 million to $952.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow SP Plus.

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SP Plus (NASDAQ:SP) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. SP Plus had a return on equity of 12.87% and a net margin of 2.55%. The business had revenue of $392.40 million during the quarter, compared to analyst estimates of $223.40 million.

A number of equities research analysts have recently issued reports on SP shares. Zacks Investment Research upgraded SP Plus from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Saturday, February 24th. BidaskClub raised SP Plus from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Finally, Barrington Research reissued an “outperform” rating and issued a $42.00 price target (up previously from $39.00) on shares of SP Plus in a report on Monday, March 5th.

Shares of SP stock traded up $0.25 during trading hours on Friday, reaching $35.30. The company had a trading volume of 4,668 shares, compared to its average volume of 108,905. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.85. SP Plus has a twelve month low of $28.10 and a twelve month high of $41.70. The firm has a market cap of $793.42, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.59 and a beta of 1.10.

In related news, EVP Gerard M. Klaisle sold 7,500 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.15, for a total value of $286,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO G Marc Baumann sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.00, for a total value of $38,000.00. The disclosure for this sale can be found here. Insiders sold 10,333 shares of company stock valued at $389,780 in the last three months. 1.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in SP Plus by 2.3% during the 4th quarter. BlackRock Inc. now owns 1,367,713 shares of the business services provider’s stock worth $50,742,000 after buying an additional 30,340 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of SP Plus by 9.0% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,174,996 shares of the business services provider’s stock worth $43,592,000 after purchasing an additional 96,861 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SP Plus by 16.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,067,822 shares of the business services provider’s stock worth $42,179,000 after purchasing an additional 153,730 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of SP Plus by 36.4% in the 4th quarter. Renaissance Technologies LLC now owns 474,200 shares of the business services provider’s stock worth $17,593,000 after purchasing an additional 126,608 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of SP Plus by 4.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 466,557 shares of the business services provider’s stock worth $17,309,000 after purchasing an additional 21,468 shares during the last quarter. 96.02% of the stock is currently owned by 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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