SPX Co. (NYSE:SPXC) Expected to Announce Earnings of $0.42 Per Share

Wall Street brokerages expect SPX Co. (NYSE:SPXC) to report earnings per share of $0.42 for the current quarter, Zacks reports. Two analysts have provided estimates for SPX’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.45. SPX reported earnings per share of $0.64 in the same quarter last year, which suggests a negative year-over-year growth rate of 34.4%. The firm is expected to issue its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that SPX will report full-year earnings of $2.36 per share for the current fiscal year, with EPS estimates ranging from $2.35 to $2.38. For the next year, analysts forecast that the business will post earnings of $2.92 per share, with EPS estimates ranging from $2.75 to $3.00. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for SPX.

SPX (NYSE:SPXC) last posted its quarterly earnings data on Thursday, August 5th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.08. The business had revenue of $296.70 million during the quarter, compared to the consensus estimate of $294.55 million. SPX had a return on equity of 19.19% and a net margin of 8.95%.

A number of research analysts have issued reports on SPXC shares. Zacks Investment Research downgraded SPX from a “hold” rating to a “sell” rating in a research note on Wednesday. Oppenheimer raised their target price on SPX from $72.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th.

In other SPX news, insider Brian G. Mason sold 10,000 shares of the company’s stock in a transaction on Thursday, September 30th. The shares were sold at an average price of $54.19, for a total value of $541,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.92% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of SPX by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,775,111 shares of the company’s stock valued at $291,663,000 after acquiring an additional 33,914 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in SPX by 8.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,262,464 shares of the company’s stock worth $260,351,000 after buying an additional 327,361 shares in the last quarter. Ameriprise Financial Inc. increased its stake in SPX by 27.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,611,683 shares of the company’s stock worth $93,914,000 after buying an additional 348,506 shares in the last quarter. State Street Corp grew its position in shares of SPX by 7.1% during the second quarter. State Street Corp now owns 1,502,300 shares of the company’s stock valued at $91,760,000 after purchasing an additional 99,155 shares in the last quarter. Finally, FMR LLC grew its position in shares of SPX by 29.3% during the second quarter. FMR LLC now owns 1,337,354 shares of the company’s stock valued at $81,685,000 after purchasing an additional 303,020 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

SPX stock traded up $0.04 during mid-day trading on Wednesday, reaching $58.09. The stock had a trading volume of 74,038 shares, compared to its average volume of 175,860. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.05 and a current ratio of 1.27. SPX has a fifty-two week low of $41.78 and a fifty-two week high of $67.66. The stock’s 50-day simple moving average is $59.63 and its 200-day simple moving average is $60.83. The firm has a market capitalization of $2.63 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.36.

About SPX

SPX Corp. is the supplier of infrastructure equipment and products. It operates through the following segments: HVAC, Detection and Measurement, and Engineered Solutions. The HVAC segment engineers, designs, manufactures, installs, and services cooling products for the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.

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Earnings History and Estimates for SPX (NYSE:SPXC)

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