William Blair Analysts Cut Earnings Estimates for SP Plus Co. (NASDAQ:SP)

SP Plus Co. (NASDAQ:SP) – Equities research analysts at William Blair reduced their Q2 2024 earnings per share estimates for SP Plus in a report issued on Thursday, May 2nd. William Blair analyst T. Mulrooney now forecasts that the business services provider will earn $0.73 per share for the quarter, down from their prior estimate of $0.81. The consensus estimate for SP Plus’ current full-year earnings is $3.26 per share. William Blair also issued estimates for SP Plus’ FY2024 earnings at $3.01 EPS and FY2025 earnings at $3.57 EPS.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). SP Plus had a net margin of 1.68% and a return on equity of 22.21%. The company had revenue of $217.20 million during the quarter, compared to the consensus estimate of $235.44 million.

A number of other analysts have also recently commented on SP. TheStreet cut shares of SP Plus from a “b” rating to a “c+” rating in a research report on Tuesday, February 27th. StockNews.com began coverage on SP Plus in a report on Tuesday, April 30th. They issued a “hold” rating for the company.

SP Plus Trading Down 0.0 %

SP opened at $51.50 on Monday. The firm’s fifty day moving average is $51.62 and its two-hundred day moving average is $51.31. The firm has a market cap of $1.02 billion, a PE ratio of 33.88 and a beta of 1.22. SP Plus has a twelve month low of $33.89 and a twelve month high of $52.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71.

Institutional Trading of SP Plus

Several institutional investors have recently added to or reduced their stakes in SP. Alpine Associates Management Inc. bought a new stake in shares of SP Plus in the fourth quarter valued at approximately $51,204,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of SP Plus during the 4th quarter valued at $15,391,000. Westchester Capital Management LLC acquired a new stake in shares of SP Plus during the 4th quarter worth $15,226,000. Goldman Sachs Group Inc. increased its position in shares of SP Plus by 348.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 373,833 shares of the business services provider’s stock worth $19,159,000 after purchasing an additional 290,403 shares during the period. Finally, UBS Group AG raised its stake in SP Plus by 2,311.1% in the fourth quarter. UBS Group AG now owns 218,640 shares of the business services provider’s stock valued at $11,205,000 after purchasing an additional 209,572 shares in the last quarter. 93.98% of the stock is currently owned by institutional investors.

SP Plus Company Profile

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. 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.