Zacks: Analysts Expect SP Plus Co. (NASDAQ:SP) Will Post Quarterly Sales of $137.43 Million

Analysts expect SP Plus Co. (NASDAQ:SP) to report sales of $137.43 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for SP Plus’ earnings. The highest sales estimate is $140.00 million and the lowest is $134.85 million. SP Plus reported sales of $93.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 47.8%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 5th.

On average, analysts expect that SP Plus will report full year sales of $605.91 million for the current year, with estimates ranging from $599.00 million to $612.82 million. For the next fiscal year, analysts expect that the company will report sales of $713.34 million, with estimates ranging from $656.00 million to $770.68 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow SP Plus.

SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, April 28th. The business services provider reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.34. SP Plus had a negative net margin of 13.02% and a positive return on equity of 7.33%.

SP has been the topic of several recent research reports. TheStreet upgraded shares of SP Plus from a “d+” rating to a “c-” rating in a report on Thursday, April 29th. Barrington Research lifted their price objective on shares of SP Plus from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, May 10th. Finally, Zacks Investment Research raised shares of SP Plus from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, May 4th.

Shares of SP Plus stock traded down $0.30 during trading on Friday, hitting $33.35. 1,926 shares of the stock traded hands, compared to its average volume of 115,434. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.96. The stock’s fifty day simple moving average is $33.10 and its 200 day simple moving average is $30.69. The firm has a market cap of $773.89 million, a P/E ratio of -4.30, a price-to-earnings-growth ratio of 2.20 and a beta of 1.61. SP Plus has a 52-week low of $15.29 and a 52-week high of $36.71.

In related news, insider John Ricchiuto sold 3,500 shares of the stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $34.01, for a total value of $119,035.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kristopher H. Roy sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $33.26, for a total transaction of $53,216.00. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Several large investors have recently bought and sold shares of SP. International Assets Investment Management LLC raised its position in SP Plus by 100.0% during the 1st quarter. International Assets Investment Management LLC now owns 1,200 shares of the business services provider’s stock worth $37,000 after buying an additional 600 shares during the last quarter. Arlington Partners LLC acquired a new stake in shares of SP Plus in the first quarter worth $58,000. Citigroup Inc. raised its holdings in shares of SP Plus by 249.9% during the fourth quarter. Citigroup Inc. now owns 4,668 shares of the business services provider’s stock worth $135,000 after purchasing an additional 3,334 shares during the last quarter. SG Americas Securities LLC acquired a new position in SP Plus during the fourth quarter valued at $169,000. Finally, Arizona State Retirement System purchased a new stake in SP Plus in the first quarter valued at $209,000. Institutional investors and hedge funds own 85.29% of the company’s stock.

About SP Plus

SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services in North America. The company operates through Commercial, Aviation, and Other segments. It provides on-site parking management, event logistics, baggage handling, remote airline check-in, security, and municipal meter revenue collection and enforcement services.

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