Analysts Expect SP Plus Corp (SP) Will Post Quarterly Sales of $230.80 Million
Analysts expect SP Plus Corp (NASDAQ:SP) to report $230.80 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for SP Plus’ earnings, with the highest sales estimate coming in at $232.60 million and the lowest estimate coming in at $229.00 million. SP Plus reported sales of $414.50 million during the same quarter last year, which indicates a negative year-over-year growth rate of 44.3%. The business is expected to announce its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, 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 financial year, analysts expect that the business will report sales of $949.35 million per share, with estimates ranging from $946.70 million to $952.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for SP Plus.
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 the consensus estimate of $0.40. SP Plus had a return on equity of 12.87% and a net margin of 2.55%. The company had revenue of $392.40 million for the quarter, compared to analyst estimates of $223.40 million.
Shares of SP stock traded up $0.25 during trading hours on Friday, reaching $35.30. 4,668 shares of the company’s stock were exchanged, compared to its average volume of 108,905. SP Plus has a 1 year low of $28.10 and a 1 year high of $41.70. The firm has a market capitalization of $793.42, a price-to-earnings ratio of 20.50, a PEG ratio of 1.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.85.
In related news, insider Thomas L. Hagerman sold 833 shares of SP Plus stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $36.20, for a total transaction of $30,154.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO G Marc Baumann sold 1,000 shares of SP Plus stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $35.50, for a total value of $35,500.00. The disclosure for this sale can be found here. Insiders have sold 10,333 shares of company stock valued at $389,780 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its holdings in SP Plus by 1.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 157,076 shares of the business services provider’s stock valued at $5,828,000 after acquiring an additional 1,607 shares during the period. Cypress Capital Management LLC WY lifted its holdings in SP Plus by 12.7% in the fourth quarter. Cypress Capital Management LLC WY now owns 15,690 shares of the business services provider’s stock valued at $582,000 after acquiring an additional 1,765 shares during the period. First Trust Advisors LP lifted its holdings in SP Plus by 13.0% in the fourth quarter. First Trust Advisors LP now owns 20,199 shares of the business services provider’s stock valued at $749,000 after acquiring an additional 2,331 shares during the period. Victory Capital Management Inc. lifted its holdings in SP Plus by 9.0% in the fourth quarter. Victory Capital Management Inc. now owns 31,544 shares of the business services provider’s stock valued at $1,171,000 after acquiring an additional 2,605 shares during the period. Finally, Zions Bancorporation acquired a new position in SP Plus in the third quarter valued at approximately $108,000. 96.02% of the stock is owned by hedge funds and other 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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