Q2 2024 EPS Estimates for SP Plus Co. Cut by Analyst (NASDAQ:SP)

SP Plus Co. (NASDAQ:SP) – Investment analysts at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for shares of SP Plus in a research report issued on Thursday, May 2nd. William Blair analyst T. Mulrooney now anticipates that the business services provider will earn $0.73 per share for the quarter, down from their previous forecast 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 posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.25). The firm had revenue of $217.20 million for the quarter, compared to analysts’ expectations of $235.44 million. SP Plus had a net margin of 1.68% and a return on equity of 22.21%.

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

SP Plus Stock Performance

Shares of NASDAQ:SP opened at $51.50 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34. SP Plus has a 12-month low of $33.89 and a 12-month high of $52.56. The business has a 50 day moving average of $51.62 and a two-hundred day moving average of $51.32. The company has a market capitalization of $1.02 billion, a PE ratio of 33.88 and a beta of 1.22.

Institutional Trading of SP Plus

Several hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its stake in shares of SP Plus by 0.9% in the 3rd quarter. Swiss National Bank now owns 43,200 shares of the business services provider’s stock valued at $1,560,000 after buying an additional 400 shares during the period. Parallel Advisors LLC lifted its holdings in shares of SP Plus by 868.4% in the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after acquiring an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of SP Plus in the 4th quarter worth approximately $61,000. Citigroup Inc. lifted its holdings in shares of SP Plus by 12.1% in the 3rd quarter. Citigroup Inc. now owns 11,437 shares of the business services provider’s stock worth $413,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of SP Plus in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 93.98% of the company’s stock.

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.