SPX (NYSE:SPXC) Issues FY 2021 After-Hours Earnings Guidance

SPX (NYSE:SPXC) issued an update on its FY 2021
After-Hours earnings guidance on Tuesday morning. The company provided EPS guidance of 3.00-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.12. The company issued revenue guidance of $1.6-1.6 billion, compared to the consensus revenue estimate of $1.6 billion.

SPX stock traded up $0.14 during midday trading on Tuesday, hitting $57.07. 225,052 shares of the stock were exchanged, compared to its average volume of 208,947. SPX has a 1 year low of $25.50 and a 1 year high of $60.06. The firm has a market cap of $2.56 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.15 and a quick ratio of 0.83. The company has a 50 day moving average price of $56.04 and a two-hundred day moving average price of $49.70.

Several research analysts have weighed in on SPXC shares. Oppenheimer raised their price objective on shares of SPX from $54.00 to $60.00 and gave the stock an outperform rating in a report on Monday, December 21st. Seaport Global Securities reissued a buy rating on shares of SPX in a report on Friday, October 30th. Finally, Zacks Investment Research lowered shares of SPX from a buy rating to a hold rating in a report on Saturday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $54.50.

In other news, insider John William Swann III sold 19,663 shares of SPX stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $57.71, for a total value of $1,134,751.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.39% of the company’s stock.

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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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