SPX Technologies (SPXC) Scheduled to Post Quarterly Earnings on Thursday

SPX Technologies (NYSE:SPXC) will release its earnings data after the market closes on Thursday, May 2nd. Analysts expect SPX Technologies to post earnings of $1.07 per share for the quarter. SPX Technologies has set its FY24 guidance at $4.85-5.15 EPS and its FY 2024 guidance at 4.850-5.150 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. The company had revenue of $469.40 million during the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. SPX Technologies’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. On average, analysts expect SPX Technologies to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $122.55 on Tuesday. SPX Technologies has a 12-month low of $61.09 and a 12-month high of $124.81. The business’s fifty day simple moving average is $117.83 and its 200-day simple moving average is $102.06. The company has a current ratio of 1.77, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.67 billion, a PE ratio of 63.83, a PEG ratio of 1.34 and a beta of 1.25.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $134.00 price target (up from $124.00) on shares of SPX Technologies in a research note on Thursday, March 28th. StockNews.com lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Finally, UBS Group lifted their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th.

Insider Buying and Selling

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the sale, the chief executive officer now owns 667,045 shares in the company, valued at approximately $76,936,970.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider John William Swann III sold 32,325 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the transaction, the chief executive officer now owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The disclosure for this sale can be found here. Insiders sold 94,373 shares of company stock worth $10,962,146 in the last 90 days. Insiders own 3.53% of the company’s stock.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.