Wall Street brokerages expect SP Plus Corp (NASDAQ:SP) to report sales of $190.75 million for the current quarter, Zacks reports. Two analysts have made estimates for SP Plus’ earnings, with estimates ranging from $188.50 million to $193.00 million. SP Plus reported sales of $392.70 million during the same quarter last year, which indicates a negative year over year growth rate of 51.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that SP Plus will report full year sales of $770.60 million for the current year, with estimates ranging from $765.20 million to $776.00 million. For the next year, analysts anticipate that the business will report sales of $787.80 million per share, with estimates ranging from $786.60 million to $789.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover SP Plus.
SP Plus (NASDAQ:SP) last posted its earnings results on Tuesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.07. The company had revenue of $362.20 million for the quarter, compared to analyst estimates of $191.95 million. SP Plus had a net margin of 3.28% and a return on equity of 14.06%.
In related news, CEO G Marc Baumann sold 1,000 shares of the firm’s stock in a transaction on 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas L. Hagerman sold 3,918 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were 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. 1.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new position in shares of SP Plus in the 1st quarter valued at about $107,000. SG Americas Securities LLC bought a new position in shares of SP Plus in the 1st quarter valued at about $147,000. WINTON GROUP Ltd bought a new position in shares of SP Plus in the 1st quarter valued at about $217,000. Citigroup Inc. grew its position in shares of SP Plus by 61.4% in the 1st quarter. Citigroup Inc. now owns 6,972 shares of the business services provider’s stock valued at $248,000 after acquiring an additional 2,652 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of SP Plus by 30.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 1,744 shares during the period. 96.33% of the stock is owned by institutional investors and hedge funds.
SP traded up $1.10 during mid-day trading on Friday, hitting $39.35. The stock had a trading volume of 277,000 shares, compared to its average volume of 93,241. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $858.04 million, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. SP Plus has a 1-year low of $32.15 and a 1-year high of $41.70.
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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