Zacks: Analysts Anticipate SP Plus Corp (NASDAQ:SP) Will Announce Earnings of $0.67 Per Share

Analysts expect that SP Plus Corp (NASDAQ:SP) will report earnings per share of $0.67 for the current quarter, according to Zacks. Two analysts have made estimates for SP Plus’ earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.65. SP Plus posted earnings per share of $0.64 in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is scheduled to announce its next earnings results on Wednesday, October 30th.

On average, analysts expect that SP Plus will report full-year earnings of $2.71 per share for the current year, with EPS estimates ranging from $2.70 to $2.71. For the next financial year, analysts expect that the firm will post earnings of $2.88 per share, with EPS estimates ranging from $2.85 to $2.91. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow SP Plus.

SP Plus (NASDAQ:SP) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.06. The company had revenue of $414.20 million for the quarter, compared to analysts’ expectations of $238.15 million. SP Plus had a return on equity of 15.99% and a net margin of 3.10%.

Several analysts recently issued reports on SP shares. Zacks Investment Research raised SP Plus from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Saturday, August 3rd. Barrington Research set a $43.00 target price on SP Plus and gave the stock a “buy” rating in a report on Friday, July 12th. ValuEngine upgraded SP Plus from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub cut SP Plus from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $44.00.

SP traded up $0.15 on Wednesday, hitting $35.08. 930 shares of the company’s stock traded hands, compared to its average volume of 92,525. The company’s 50 day simple moving average is $33.94 and its 200-day simple moving average is $33.65. The firm has a market cap of $784.39 million, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.26 and a beta of 1.04. SP Plus has a one year low of $27.13 and a one year high of $41.20. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of SP Plus by 9.6% in the 2nd quarter. BlackRock Inc. now owns 1,795,084 shares of the business services provider’s stock worth $57,316,000 after acquiring an additional 156,491 shares in the last quarter. Dimensional Fund Advisors LP increased its position in SP Plus by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,192,387 shares of the business services provider’s stock valued at $35,223,000 after buying an additional 7,262 shares in the last quarter. Nuveen Asset Management LLC increased its position in SP Plus by 19.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,144,556 shares of the business services provider’s stock valued at $36,545,000 after buying an additional 189,296 shares in the last quarter. Bernzott Capital Advisors increased its position in SP Plus by 0.3% during the 2nd quarter. Bernzott Capital Advisors now owns 853,381 shares of the business services provider’s stock valued at $27,248,000 after buying an additional 2,911 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in SP Plus by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 583,700 shares of the business services provider’s stock valued at $18,638,000 after purchasing an additional 49,489 shares during the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

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 company was founded in 1929 and is headquartered in Chicago, IL.

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