SPX (NYSE:SPXC) Releases Earnings Results, Beats Expectations By $0.02 EPS

SPX (NYSE:SPXC) issued its quarterly earnings results on Thursday. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02, Bloomberg Earnings reports. SPX had a return on equity of 27.82% and a net margin of 5.18%. The firm had revenue of $444.60 million during the quarter, compared to analyst estimates of $438.75 million. SPX updated its FY 2020
After-Hours guidance to 2.90-3.05 EPS and its FY20 guidance to $2.90-3.05 EPS.

Shares of SPX stock traded down $1.67 on Friday, hitting $51.27. The company had a trading volume of 24,130 shares, compared to its average volume of 272,652. The firm has a market capitalization of $2.25 billion, a P/E ratio of 28.60 and a beta of 1.45. SPX has a twelve month low of $29.59 and a twelve month high of $53.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.21 and a quick ratio of 0.87. The stock has a 50-day moving average of $51.06 and a 200-day moving average of $44.52.

In other SPX news, insider Brian G. Mason sold 25,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $50.94, for a total transaction of $1,273,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.21% of the stock is owned by corporate insiders.

A number of equities research analysts have issued reports on the stock. Vertical Research downgraded shares of SPX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Buckingham Research lifted their price target on shares of SPX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, December 19th. They noted that the move was a valuation call. Seaport Global Securities began coverage on shares of SPX in a report on Tuesday, October 22nd. They set a “buy” rating and a $50.00 price target for the company. Zacks Investment Research raised shares of SPX from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, November 5th. Finally, Sidoti started coverage on shares of SPX in a research note on Friday, October 18th. They issued a “buy” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. SPX presently has an average rating of “Hold” and a consensus price target of $53.60.

About SPX

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 for SPX (NYSE:SPXC)

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