Brokerages Anticipate SP Plus Co. (NASDAQ:SP) Will Post Quarterly Sales of $169.64 Million

Wall Street brokerages expect that SP Plus Co. (NASDAQ:SPGet Rating) will report sales of $169.64 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for SP Plus’ earnings, with the lowest sales estimate coming in at $166.00 million and the highest estimate coming in at $173.27 million. SP Plus posted sales of $128.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.8%. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that SP Plus will report full year sales of $685.48 million for the current year, with estimates ranging from $672.00 million to $698.97 million. For the next year, analysts forecast that the firm will report sales of $730.09 million, with estimates ranging from $728.00 million to $732.17 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow SP Plus.

SP Plus (NASDAQ:SPGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The business services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). The firm had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.05 million. SP Plus had a net margin of 2.69% and a return on equity of 20.16%. During the same quarter in the previous year, the company posted $0.02 EPS.

Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded SP Plus from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. StockNews.com assumed coverage on SP Plus in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of SP Plus in a report on Wednesday, February 23rd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $37.00.

Several institutional investors have recently added to or reduced their stakes in SP. Advisor Group Holdings Inc. increased its stake in SP Plus by 28.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,761 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 385 shares during the last quarter. Alpha Paradigm Partners LLC increased its stake in SP Plus by 124.4% in the fourth quarter. Alpha Paradigm Partners LLC now owns 1,010 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 560 shares during the last quarter. Credit Suisse AG increased its stake in SP Plus by 3.9% in the fourth quarter. Credit Suisse AG now owns 16,647 shares of the business services provider’s stock valued at $471,000 after acquiring an additional 630 shares during the last quarter. Sei Investments Co. increased its stake in SP Plus by 0.6% in the fourth quarter. Sei Investments Co. now owns 122,420 shares of the business services provider’s stock valued at $3,457,000 after acquiring an additional 716 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in SP Plus by 2.4% in the fourth quarter. California State Teachers Retirement System now owns 32,204 shares of the business services provider’s stock valued at $909,000 after acquiring an additional 762 shares during the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:SP opened at $29.35 on Thursday. The company has a market cap of $682.74 million, a P/E ratio of 19.83 and a beta of 1.50. The stock’s fifty day moving average price is $30.21 and its two-hundred day moving average price is $29.33. SP Plus has a 1 year low of $25.29 and a 1 year high of $35.99. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.58 and a quick ratio of 0.58.

SP Plus Company Profile (Get Rating)

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.

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