Equities analysts predict that SP Plus Corp (NASDAQ:SP) will report sales of $223.40 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for SP Plus’ earnings. The lowest sales estimate is $221.80 million and the highest is $225.00 million. SP Plus reported sales of $406.20 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 45%. The company is scheduled to report its next earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that SP Plus will report full year sales of $223.40 million for the current fiscal year, with estimates ranging from $907.20 million to $910.00 million. For the next fiscal year, analysts forecast that the company will report sales of $923.05 million per share, with estimates ranging from $916.10 million to $930.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for SP Plus.
SP Plus (NASDAQ:SP) last released its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The firm had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $228.10 million. SP Plus had a return on equity of 14.29% and a net margin of 2.64%.
In other news, major shareholder Walter S. Woltosz sold 18,500 shares of the firm’s stock in a transaction on Saturday, October 28th. The stock was sold at an average price of $16.37, for a total value of $302,845.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Zions Bancorporation purchased a new position in shares of SP Plus in the third quarter valued at $108,000. SG Americas Securities LLC purchased a new position in shares of SP Plus in the third quarter valued at $141,000. Legal & General Group Plc increased its position in shares of SP Plus by 5.0% in the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock valued at $129,000 after buying an additional 200 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of SP Plus in the third quarter valued at $271,000. Finally, California Public Employees Retirement System purchased a new position in shares of SP Plus in the second quarter valued at $214,000. Institutional investors and hedge funds own 96.53% of the company’s stock.
SP Plus (SP) traded up $0.70 during trading hours on Thursday, reaching $41.35. The company’s stock had a trading volume of 190,012 shares, compared to its average volume of 113,939. The stock has a market capitalization of $931.24, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.82. SP Plus has a 1 year low of $27.05 and a 1 year high of $41.60.
About SP Plus
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SP Plus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus and related companies with MarketBeat.com's FREE daily email newsletter.