Brokerages Expect SP Plus Corp (SP) to Post $0.40 Earnings Per Share

Shares of SP Plus Corp (NASDAQ:SP) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $42.00 for the company and are predicting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 212 out of 265 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on SP. BidaskClub lowered shares of SP Plus from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. ValuEngine lowered shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Saturday, November 4th.

In related news, major shareholder Walter S. Woltosz sold 18,500 shares of the stock in a transaction that occurred on Saturday, October 28th. The shares were sold at an average price of $16.37, for a total value of $302,845.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zions Bancorporation bought a new stake in SP Plus in the third quarter valued at approximately $108,000. SG Americas Securities LLC bought a new stake in SP Plus in the third quarter valued at approximately $141,000. Legal & General Group Plc increased its stake in SP Plus by 5.0% in the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 200 shares in the last quarter. Magnetar Financial LLC bought a new stake in SP Plus in the third quarter valued at approximately $271,000. Finally, California Public Employees Retirement System bought a new stake in SP Plus in the second quarter valued at approximately $214,000. Institutional investors and hedge funds own 96.53% of the company’s stock.

Shares of SP Plus (SP) traded up $0.20 during trading on Wednesday, reaching $38.00. 80,424 shares of the company’s stock traded hands, compared to its average volume of 121,621. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $855.79, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. SP Plus has a 1 year low of $27.05 and a 1 year high of $41.25.

SP Plus (NASDAQ:SP) last announced its earnings results on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.08. SP Plus had a net margin of 2.64% and a return on equity of 14.29%. The company had revenue of $392.70 million for the quarter, compared to analyst estimates of $228.10 million. equities analysts expect that SP Plus will post 1.7 EPS for the current fiscal year.

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SP Plus Company Profile

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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