$225.13 Million in Sales Expected for SP Plus Corp (SP) This Quarter

$225.13 Million in Sales Expected for SP Plus Corp (SP) This Quarter

Brokerages expect SP Plus Corp (NASDAQ:SP) to announce $225.13 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for SP Plus Corp’s earnings. The lowest sales estimate is $220.7 million and the highest is $229.56 million. SP Plus Corp posted sales of $402.6 million in the same quarter last year, which would indicate a negative year over year growth rate of 44.1%. The business is expected to report its next earnings results on Wednesday, August 2nd.

According to Zacks, analysts expect that SP Plus Corp will report full year sales of $225.13 million for the current fiscal year, with estimates ranging from $880.5 million to $910.26 million. For the next fiscal year, analysts forecast that the business will post sales of $916.44 million per share, with estimates ranging from $897.57 million to $935.3 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow SP Plus Corp.

SP Plus Corp (NASDAQ:SP) last posted its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. The firm had revenue of $414.50 million for the quarter, compared to the consensus estimate of $228.46 million. SP Plus Corp had a net margin of 1.00% and a return on equity of 9.72%.

A number of brokerages have recently issued reports on SP. Zacks Investment Research lowered shares of SP Plus Corp from a “hold” rating to a “sell” rating in a research note on Saturday, January 21st. Barrington Research reissued an “outperform” rating and set a $37.00 target price (up from $30.00) on shares of SP Plus Corp in a research note on Monday, March 13th.

SP Plus Corp (NASDAQ:SP) traded down 3.09% on Wednesday, hitting $31.35. 116,969 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $33.47 and a 200-day moving average price of $29.63. SP Plus Corp has a 12 month low of $21.07 and a 12 month high of $38.55. The stock has a market cap of $691.30 million, a P/E ratio of 30.44 and a beta of 0.97.

In other news, insider Thomas L. Hagerman sold 1,314 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $33.76, for a total transaction of $44,360.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Ricchiuto sold 1,900 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $31.76, for a total transaction of $60,344.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of SP Plus Corp by 2.7% in the first quarter. US Bancorp DE now owns 3,229 shares of the business services provider’s stock worth $109,000 after buying an additional 84 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of SP Plus Corp by 0.9% in the fourth quarter. Teachers Advisors LLC now owns 27,710 shares of the business services provider’s stock worth $780,000 after buying an additional 236 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in shares of SP Plus Corp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 75,704 shares of the business services provider’s stock worth $2,555,000 after buying an additional 269 shares in the last quarter. Alambic Investment Management L.P. raised its stake in shares of SP Plus Corp by 1.4% in the third quarter. Alambic Investment Management L.P. now owns 21,700 shares of the business services provider’s stock worth $555,000 after buying an additional 300 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of SP Plus Corp by 6.6% in the third quarter. First Trust Advisors LP now owns 9,965 shares of the business services provider’s stock worth $255,000 after buying an additional 619 shares in the last quarter. 73.92% of the stock is owned by hedge funds and other institutional investors.

SP Plus Corp 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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