$0.94 Earnings Per Share Expected for SPX Corp (NYSE:SPXC) This Quarter

Wall Street analysts expect SPX Corp (NYSE:SPXC) to announce $0.94 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for SPX’s earnings, with estimates ranging from $0.93 to $0.94. SPX reported earnings per share of $0.89 in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 13th.

On average, analysts expect that SPX will report full year earnings of $2.72 per share for the current year, with EPS estimates ranging from $2.71 to $2.72. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.94 per share, with EPS estimates ranging from $2.90 to $2.96. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover SPX.

SPX (NYSE:SPXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm had revenue of $364.80 million for the quarter, compared to analyst estimates of $353.48 million. SPX had a return on equity of 27.82% and a net margin of 5.18%. SPX’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share.

SPXC has been the topic of a number of recent research reports. Seaport Global Securities initiated coverage on SPX in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $50.00 target price on the stock. Sidoti initiated coverage on SPX in a research note on Friday, October 18th. They issued a “buy” rating and a $52.00 target price on the stock. Vertical Research downgraded SPX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. UBS Group downgraded SPX from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $56.00 in a research note on Tuesday, January 7th. Finally, Zacks Investment Research upgraded SPX from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. SPX presently has a consensus rating of “Hold” and a consensus price target of $53.60.

In related news, insider Brian G. Mason sold 25,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $50.94, for a total transaction of $1,273,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.21% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in SPX by 2.8% in the 2nd quarter. BlackRock Inc. now owns 6,435,989 shares of the company’s stock valued at $212,517,000 after acquiring an additional 173,894 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SPX by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,519,311 shares of the company’s stock worth $149,228,000 after buying an additional 27,328 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings 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 buying an additional 107,647 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of SPX by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 610,353 shares of the company’s stock worth $20,154,000 after buying an additional 11,835 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of SPX by 1.3% in the 2nd quarter. Northern Trust Corp now owns 556,423 shares of the company’s stock worth $18,373,000 after buying an additional 6,947 shares in the last quarter. 88.28% of the stock is owned by hedge funds and other institutional investors.

NYSE SPXC traded down $0.60 on Friday, reaching $52.68. The stock had a trading volume of 229,091 shares, compared to its average volume of 274,303. The business has a 50 day moving average price of $50.49 and a 200 day moving average price of $42.22. The company has a current ratio of 1.21, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. SPX has a 1 year low of $28.69 and a 1 year high of $53.74. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 29.76 and a beta of 1.44.

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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Earnings History and Estimates for SPX (NYSE:SPXC)

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