$0.70 Earnings Per Share Expected for SP Plus Co. (NASDAQ:SP) This Quarter

Brokerages expect that SP Plus Co. (NASDAQ:SP – Get Rating) will post earnings per share of $0.70 for the current quarter, according to Zacks. Two analysts have made estimates for SP Plus’ earnings, with estimates ranging from $0.68 to $0.71. SP Plus posted earnings of $0.49 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 42.9%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that SP Plus will report full year earnings of $2.69 per share for the current year, with EPS estimates ranging from $2.63 to $2.75. For the next fiscal year, analysts expect that the company will post earnings of $3.01 per share, with EPS estimates ranging from $2.98 to $3.03. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow SP Plus.

SP Plus (NASDAQ:SP – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The business services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). SP Plus had a net margin of 3.13% and a return on equity of 22.25%. The firm had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.05 million. During the same period last year, the business posted $0.02 EPS.

A number of equities research analysts have commented on SP shares. William Blair reissued an “outperform” rating on shares of SP Plus in a research note on Wednesday, February 23rd. Zacks Investment Research raised SP Plus from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Wednesday, May 11th. Barrington Research reissued an “outperform” rating and issued a $47.00 price objective (up previously from $46.00) on shares of SP Plus in a research note on Monday, May 16th. Finally, StockNews.com initiated coverage on SP Plus in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $39.50.

Several large investors have recently made changes to their positions in the stock. Alpha Paradigm Partners LLC boosted its position 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 worth $29,000 after purchasing an additional 560 shares during the last quarter. Advisor Group Holdings Inc. boosted its position 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 worth $51,000 after purchasing an additional 385 shares during the last quarter. Citigroup Inc. boosted its position in SP Plus by 100.4% in the third quarter. Citigroup Inc. now owns 3,058 shares of the business services provider’s stock worth $94,000 after purchasing an additional 1,532 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in SP Plus by 390.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,645 shares of the business services provider’s stock worth $142,000 after purchasing an additional 3,698 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in shares of SP Plus during the 1st quarter valued at $143,000. 87.28% of the stock is currently owned by institutional investors.

Shares of SP Plus stock opened at $31.24 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.58 and a current ratio of 0.62. SP Plus has a 52 week low of $25.29 and a 52 week high of $34.99. The stock has a 50 day moving average price of $30.13 and a two-hundred day moving average price of $29.23. The stock has a market capitalization of $726.70 million, a PE ratio of 16.71 and a beta of 1.50.

About SP Plus (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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