Brokerages Anticipate SP Plus Corp (SP) to Announce $0.61 EPS

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SP Plus Corp (NASDAQ:SP) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price objective of $43.00 for the company and are expecting that the company will post $0.61 earnings per share for the current quarter, according to Zacks. Zacks has also assigned SP Plus an industry rank of 117 out of 255 based on the ratings given to related companies.

Several equities analysts have recently weighed in on SP shares. BidaskClub raised shares of SP Plus from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Barrington Research raised their price target on shares of SP Plus from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, August 6th. Zacks Investment Research downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, ValuEngine raised shares of SP Plus from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th.

In other news, CEO G Marc Baumann sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $36.95, for a total value of $36,950.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas L. Hagerman sold 3,918 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $39.25, for a total transaction of $153,781.50. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in SP Plus by 81.3% during the first quarter. JPMorgan Chase & Co. now owns 39,471 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 17,703 shares during the period. Prudential Financial Inc. raised its stake in SP Plus by 1.2% during the first quarter. Prudential Financial Inc. now owns 177,355 shares of the business services provider’s stock worth $6,314,000 after purchasing an additional 2,080 shares during the period. Dudley & Shanley Inc. raised its stake in SP Plus by 33.4% during the second quarter. Dudley & Shanley Inc. now owns 679,515 shares of the business services provider’s stock worth $25,278,000 after purchasing an additional 170,259 shares during the period. Victory Capital Management Inc. raised its stake in SP Plus by 13.0% during the first quarter. Victory Capital Management Inc. now owns 35,632 shares of the business services provider’s stock worth $1,268,000 after purchasing an additional 4,088 shares during the period. Finally, Rothschild Asset Management Inc. raised its stake in SP Plus by 11.2% during the first quarter. Rothschild Asset Management Inc. now owns 194,039 shares of the business services provider’s stock worth $6,908,000 after purchasing an additional 19,494 shares during the period. 96.37% of the stock is currently owned by institutional investors.

SP opened at $39.10 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The firm has a market cap of $911.46 million, a price-to-earnings ratio of 23.00, a P/E/G ratio of 1.77 and a beta of 1.08. SP Plus has a 52-week low of $32.15 and a 52-week high of $41.70.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.07. The business had revenue of $362.20 million for the quarter, compared to the consensus estimate of $191.95 million. SP Plus had a net margin of 3.28% and a return on equity of 14.06%. research analysts anticipate that SP Plus will post 2.27 earnings per share for the current fiscal year.

SP Plus Company Profile

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

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