William Blair Comments on SP Plus Corp’s Q2 2019 Earnings (SP)

SP Plus Corp (NASDAQ:SP) – Analysts at William Blair boosted their Q2 2019 earnings estimates for SP Plus in a research note issued on Thursday, February 21st. William Blair analyst T. Mulrooney now forecasts that the business services provider will post earnings of $0.83 per share for the quarter, up from their previous forecast of $0.77. William Blair also issued estimates for SP Plus’ Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $2.63 EPS and FY2020 earnings at $2.79 EPS.

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Several other equities research analysts have also recently weighed in on SP. Barrington Research reiterated a “buy” rating and set a $43.00 price objective on shares of SP Plus in a research report on Friday. BidaskClub upgraded shares of SP Plus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Zacks Investment Research upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Finally, ValuEngine upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. SP Plus currently has a consensus rating of “Buy” and a consensus target price of $44.00.

Shares of NASDAQ SP opened at $36.34 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. SP Plus has a 52-week low of $27.13 and a 52-week high of $41.35. The company has a market capitalization of $826.37 million, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, February 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. SP Plus had a net margin of 3.62% and a return on equity of 15.38%. The firm had revenue of $377.30 million during the quarter, compared to analysts’ expectations of $192.13 million.

Several institutional investors and hedge funds have recently bought and sold shares of SP. Bank of America Corp DE increased its position in shares of SP Plus by 1.5% during the second quarter. Bank of America Corp DE now owns 138,030 shares of the business services provider’s stock worth $5,136,000 after buying an additional 2,076 shares during the period. Bank of New York Mellon Corp boosted its stake in SP Plus by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 140,249 shares of the business services provider’s stock worth $5,217,000 after acquiring an additional 9,701 shares in the last quarter. Northern Trust Corp boosted its stake in SP Plus by 17.4% during the second quarter. Northern Trust Corp now owns 319,226 shares of the business services provider’s stock worth $11,875,000 after acquiring an additional 47,254 shares in the last quarter. Victory Capital Management Inc. boosted its stake in SP Plus by 47.8% during the third quarter. Victory Capital Management Inc. now owns 54,874 shares of the business services provider’s stock worth $2,002,000 after acquiring an additional 17,751 shares in the last quarter. Finally, WCM Investment Management CA boosted its stake in SP Plus by 28.7% during the third quarter. WCM Investment Management CA now owns 273,271 shares of the business services provider’s stock worth $9,974,000 after acquiring an additional 60,909 shares in the last quarter. Institutional investors own 96.65% of the company’s stock.

About SP Plus

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

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