SP Plus Corporation (SP) Expected to Announce Quarterly Sales of $228.10 Million
Equities research analysts expect SP Plus Corporation (NASDAQ:SP) to post sales of $228.10 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for SP Plus Corporation’s earnings, with the lowest sales estimate coming in at $227.00 million and the highest estimate coming in at $229.20 million. SP Plus Corporation posted sales of $409.10 million during the same quarter last year, which would indicate a negative year over year growth rate of 44.2%. The business is scheduled to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that SP Plus Corporation will report full year sales of $228.10 million for the current year, with estimates ranging from $906.70 million to $914.70 million. For the next year, analysts expect that the business will post sales of $921.08 million per share, with estimates ranging from $914.80 million to $927.35 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow SP Plus Corporation.
SP Plus Corporation (NASDAQ:SP) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.11. SP Plus Corporation had a net margin of 2.36% and a return on equity of 13.82%. The business had revenue of $415.40 million during the quarter, compared to analyst estimates of $223.35 million.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub raised SP Plus Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Finally, ValuEngine lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st.
In related news, Director Robert S. Roath sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $34.77, for a total transaction of $2,433,900.00. Following the completion of the transaction, the director now owns 36,936 shares of the company’s stock, valued at $1,284,264.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. acquired a new position in shares of SP Plus Corporation in the 1st quarter valued at $400,000. Airain ltd acquired a new position in shares of SP Plus Corporation in the 1st quarter valued at $324,000. Trexquant Investment LP acquired a new position in shares of SP Plus Corporation in the 1st quarter valued at $551,000. Renaissance Technologies LLC boosted its position in shares of SP Plus Corporation by 26.0% in the 1st quarter. Renaissance Technologies LLC now owns 343,100 shares of the business services provider’s stock valued at $11,580,000 after purchasing an additional 70,800 shares during the period. Finally, Eagle Boston Investment Management Inc. boosted its position in shares of SP Plus Corporation by 3.4% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 329,644 shares of the business services provider’s stock valued at $10,070,000 after purchasing an additional 10,936 shares during the period. Institutional investors and hedge funds own 94.68% of the company’s stock.
SP Plus Corporation (SP) traded up 1.91% during mid-day trading on Tuesday, reaching $37.40. 245,622 shares of the company’s stock were exchanged. The company has a market capitalization of $830.35 million, a P/E ratio of 21.72 and a beta of 0.97. SP Plus Corporation has a 52 week low of $22.60 and a 52 week high of $38.55. The company’s 50 day moving average price is $36.03 and its 200-day moving average price is $32.86.
SP Plus Corporation 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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