$186.55 Million in Sales Expected for SP Plus Co. (NASDAQ:SP) This Quarter

Posted by on May 26th, 2022

Wall Street brokerages predict that SP Plus Co. (NASDAQ:SP – Get Rating) will announce sales of $186.55 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for SP Plus’ earnings. The lowest sales estimate is $185.00 million and the highest is $188.10 million. SP Plus reported sales of $141.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 32.1%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that SP Plus will report full-year sales of $745.85 million for the current fiscal year, with estimates ranging from $744.00 million to $747.70 million. For the next financial year, analysts expect that the company will post sales of $794.60 million, with estimates ranging from $783.20 million to $806.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover SP Plus.

SP Plus (NASDAQ:SP – Get Rating) last posted its earnings results on Wednesday, February 23rd. The business services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). SP Plus had a net margin of 3.13% and a return on equity of 22.25%. The company had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.05 million. During the same quarter last year, the business posted $0.02 EPS.

Several analysts recently weighed in on SP shares. Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, May 11th. Barrington Research restated an “outperform” rating and issued a $47.00 price target (up previously from $46.00) on shares of SP Plus in a research note on Monday, May 16th. William Blair restated an “outperform” rating on shares of SP Plus in a research note on Wednesday, February 23rd. Finally, StockNews.com assumed coverage on shares of SP Plus in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Four analysts have rated the stock with a buy rating, According to MarketBeat, SP Plus currently has an average rating of “Buy” and an average target price of $39.50.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SP. Alpha Paradigm Partners LLC boosted its stake in SP Plus by 124.4% in the fourth quarter. Alpha Paradigm Partners LLC now owns 1,010 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 560 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in SP Plus by 28.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,761 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 385 shares in the last quarter. Citigroup Inc. boosted its stake in SP Plus by 100.4% in the third quarter. Citigroup Inc. now owns 3,058 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 1,532 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in SP Plus by 390.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,645 shares of the business services provider’s stock valued at $142,000 after acquiring an additional 3,698 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of SP Plus during the first quarter worth about $143,000. Institutional investors own 87.28% of the company’s stock.

SP Plus stock opened at $31.00 on Thursday. SP Plus has a fifty-two week low of $25.29 and a fifty-two week high of $34.99. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.58 and a current ratio of 0.62. The firm has a 50 day moving average price of $30.14 and a 200 day moving average price of $29.25. The company has a market capitalization of $721.12 million, a PE ratio of 16.58 and a beta of 1.50.

About SP Plus (Get Rating)

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.

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