For its fourth fiscal quarter (ending December 31), SP Plus Corp (NASDAQ: SP) has reported a -75% decline in E.P.S. from $0.24 a year ago to $0.06 in the current quarter. This performance was $-0.79 short of the consensus estimate of $0.85. E.P.S. were $1.58 for the latest four quarters through December 31 versus $2.17 for the same period a year ago — a decline of -27%.
Recent Price Action
SP Plus Corp (NASDAQ: SP) stock closed at $51.50 on 2/27/24 after a slight decline of -0.4%. However, trading volume in this decline was exceptionally low at 40% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and is unchanged during the last week.
Current PriceTarget Research Rating
SP is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
SP Plus has a current Value Trend Rating of B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. SP Plus has a neutral Appreciation Score of 41 but a very high Power Rating of 88, triggering the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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