Analysts Expect SPX Co. (NYSE:SPXC) to Announce $0.60 Earnings Per Share

Brokerages expect SPX Co. (NYSE:SPXCGet Rating) to report earnings per share (EPS) of $0.60 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for SPX’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.65. SPX reported earnings of $0.49 per share in the same quarter last year, which would indicate a positive year over year growth rate of 22.4%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that SPX will report full year earnings of $2.77 per share for the current fiscal year, with EPS estimates ranging from $2.75 to $2.80. For the next year, analysts forecast that the business will report earnings of $3.17 per share, with EPS estimates ranging from $3.05 to $3.35. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow SPX.

SPX (NYSE:SPXCGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. SPX had a net margin of 33.11% and a return on equity of 10.15%. The firm had revenue of $307.10 million for the quarter, compared to the consensus estimate of $302.90 million. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year.

Several brokerages have weighed in on SPXC. TheStreet downgraded SPX from a “b-” rating to a “c” rating in a report on Monday, March 21st. Zacks Investment Research raised shares of SPX from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Saturday. Finally, cut shares of SPX from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $63.50.

Institutional investors and hedge funds have recently bought and sold shares of the business. Spire Wealth Management acquired a new stake in SPX during the 4th quarter worth about $40,000. Fairfield Bush & CO. purchased a new stake in SPX in the 1st quarter worth approximately $35,000. Quent Capital LLC purchased a new stake in SPX in the 4th quarter worth approximately $46,000. Point72 Hong Kong Ltd purchased a new stake in SPX in the 3rd quarter worth approximately $47,000. Finally, MCF Advisors LLC purchased a new stake in SPX in the 1st quarter worth approximately $79,000. 91.47% of the stock is owned by institutional investors.

Shares of SPX stock traded up $0.10 during trading on Monday, reaching $48.22. The company’s stock had a trading volume of 2,075 shares, compared to its average volume of 167,226. SPX has a 1-year low of $41.66 and a 1-year high of $68.24. The company has a 50-day simple moving average of $46.84 and a two-hundred day simple moving average of $53.00. The company has a quick ratio of 1.51, a current ratio of 2.07 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 5.46, a P/E/G ratio of 0.94 and a beta of 1.37.

SPX Company Profile (Get Rating)

SPX Corporation supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions for the HVAC, and industrial markets; and heating and ventilation products for the residential and commercial markets.

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