Analysts expect that SPX Corp (NYSE:SPXC) will post earnings of $0.94 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for SPX’s earnings. The lowest EPS estimate is $0.93 and the highest is $0.94. SPX posted earnings per share of $0.89 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings report on Thursday, February 13th.
According to Zacks, analysts expect that SPX will report full-year earnings of $2.72 per share for the current financial year, with EPS estimates ranging from $2.71 to $2.72. For the next fiscal year, analysts forecast that the firm will report earnings of $2.94 per share, with EPS estimates ranging from $2.90 to $2.96. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for SPX.
SPX (NYSE:SPXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.08. SPX had a return on equity of 27.82% and a net margin of 5.18%. The firm had revenue of $364.80 million during the quarter, compared to analysts’ expectations of $353.48 million. During the same period last year, the firm posted $0.37 EPS. The business’s revenue was up .6% on a year-over-year basis.
SPXC has been the subject of a number of recent analyst reports. Sidoti initiated coverage on SPX in a report on Friday, October 18th. They set a “buy” rating and a $52.00 price target for the company. Vertical Research cut SPX from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. UBS Group cut SPX from a “buy” rating to a “neutral” rating and raised their price target for the company from $50.00 to $56.00 in a report on Tuesday, January 7th. Buckingham Research increased their price objective on SPX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. They noted that the move was a valuation call. Finally, Seaport Global Securities began coverage on SPX in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.60.
In other SPX news, insider Brian G. Mason sold 25,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $50.94, for a total value of $1,273,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.21% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SPXC. Nuveen Asset Management LLC bought a new position in SPX in the 2nd quarter valued at $13,402,000. Eagle Asset Management Inc. boosted its position in shares of SPX by 590.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 375,195 shares of the company’s stock worth $15,011,000 after purchasing an additional 320,883 shares during the last quarter. BlackRock Inc. boosted its position in shares of SPX by 2.8% in the 2nd quarter. BlackRock Inc. now owns 6,435,989 shares of the company’s stock worth $212,517,000 after purchasing an additional 173,894 shares during the last quarter. Morgan Stanley boosted its position in shares of SPX by 288.9% in the 2nd quarter. Morgan Stanley now owns 212,263 shares of the company’s stock worth $7,010,000 after purchasing an additional 157,685 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of SPX by 11.6% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,037,204 shares of the company’s stock worth $212,165,000 after purchasing an additional 107,647 shares during the last quarter. Hedge funds and other institutional investors own 88.28% of the company’s stock.
SPXC stock traded down $0.60 during midday trading on Friday, reaching $52.68. 229,091 shares of the company’s stock traded hands, compared to its average volume of 274,303. The company has a 50-day simple moving average of $50.49 and a two-hundred day simple moving average of $42.22. SPX has a 1-year low of $28.69 and a 1-year high of $53.74. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 29.76 and a beta of 1.44. The company has a quick ratio of 0.87, a current ratio of 1.21 and a debt-to-equity ratio of 0.70.
SPX Company Profile
SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates in three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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