Spirax-Sarco Engineering (LON:SPX) Issues Earnings Results

Spirax-Sarco Engineering (LON:SPX) released its earnings results on Wednesday. The company reported GBX 120 ($1.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of GBX 125.20 ($1.64) by GBX (5.20) (($0.07)), Digital Look Earnings reports.

SPX stock traded down GBX 175 ($2.29) during trading on Friday, hitting GBX 7,920 ($103.49). The company had a trading volume of 339,189 shares, compared to its average volume of 143,754. The firm’s fifty day moving average is GBX 8,914.60. The company has a current ratio of 2.49, a quick ratio of 1.80 and a debt-to-equity ratio of 55.14. The stock has a market capitalization of $5.86 billion and a P/E ratio of 26.23. Spirax-Sarco Engineering has a fifty-two week low of GBX 5,875 ($76.77) and a fifty-two week high of GBX 9,440 ($123.35).

The business also recently declared a dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, October 10th will be paid a GBX 32 ($0.42) dividend. This represents a yield of 0.4%. The ex-dividend date of this dividend is Thursday, October 10th. Spirax-Sarco Engineering’s dividend payout ratio is 0.33%.

In related news, insider Jamie Pike purchased 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of GBX 8,090 ($105.71) per share, with a total value of £101,125 ($132,137.72).

Several analysts have recently weighed in on SPX shares. Jefferies Financial Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Spirax-Sarco Engineering from GBX 7,700 ($100.61) to GBX 8,400 ($109.76) and gave the stock a “neutral” rating in a report on Thursday. UBS Group reissued a “neutral” rating on shares of Spirax-Sarco Engineering in a report on Thursday. Goldman Sachs Group reissued a “sell” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, July 10th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Spirax-Sarco Engineering in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of GBX 7,298.33 ($95.37).

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions for users of industrial and commercial steam systems, electrical heating and temperature management systems, and process fluid paths and pumping systems. It offers condensate management products, such as steam traps, condensate return pumps, and isolation valves; controls, including automatic control valves, pressure regulators, and temperature controls; and thermal energy management products comprising metering products, boiler house products, heat transfer packages, and energy services.

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