For its first fiscal quarter (ending March 31), SP Plus Corp (NASDAQ: SP) has reported a -12% decline in E.P.S. from $0.43 a year ago to $0.38 in the current quarter. E.P.S. were $1.54 for the latest four quarters through March 31 versus $2.09 for the same period a year ago — a decline of -26%.
Recent Price Action
On 5/1/24, SP Plus Corp (NASDAQ: SP) stock increased 1.2%, closing at $51.66. However, this advance was accompanied by below average trading volume at 70% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 1.7% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, SP is expected to continue to be a major Value Builder.
SP Plus has a current Value Trend Rating of C (High Neutral). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. SP Plus has a neutral Appreciation Score of 42 but a good Power Rating of 76, with the High Neutral Value Trend Rating the result.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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