SPX Co. (NYSE:SPXC) Expected to Post Earnings of $0.72 Per Share

Equities research analysts expect SPX Co. (NYSE:SPXC) to post $0.72 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for SPX’s earnings, with estimates ranging from $0.68 to $0.76. SPX reported earnings per share of $0.64 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The firm is expected to report its next quarterly earnings results on Thursday, July 29th.

On average, analysts expect that SPX will report full year earnings of $3.22 per share for the current year, with EPS estimates ranging from $3.15 to $3.25. For the next financial year, analysts anticipate that the company will post earnings of $3.61 per share, with EPS estimates ranging from $3.51 to $3.77. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow SPX.

SPX (NYSE:SPXC) last released its earnings results on Thursday, May 6th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. SPX had a net margin of 6.68% and a return on equity of 24.19%. The firm had revenue of $397.80 million during the quarter, compared to analyst estimates of $392.17 million. During the same period last year, the business earned $0.62 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis.

A number of brokerages recently weighed in on SPXC. Sidoti began coverage on shares of SPX in a report on Tuesday, April 20th. They issued a “buy” rating for the company. Oppenheimer restated a “buy” rating and issued a $68.00 price objective on shares of SPX in a report on Tuesday, April 20th. Finally, Zacks Investment Research lowered shares of SPX from a “buy” rating to a “hold” rating in a report on Wednesday, May 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $68.50.

A number of large investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. grew its position in SPX by 10.7% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 62,465 shares of the company’s stock worth $3,640,000 after purchasing an additional 6,024 shares during the period. Verition Fund Management LLC bought a new stake in SPX in the 1st quarter worth approximately $221,000. Man Group plc bought a new stake in SPX in the 1st quarter worth approximately $220,000. Price T Rowe Associates Inc. MD grew its position in SPX by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,935,103 shares of the company’s stock worth $229,298,000 after purchasing an additional 158,650 shares during the period. Finally, NFJ Investment Group LLC bought a new stake in SPX in the 1st quarter worth approximately $3,254,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Shares of SPXC stock traded down $1.51 during trading hours on Tuesday, hitting $60.79. 81,860 shares of the company’s stock traded hands, compared to its average volume of 198,644. The stock’s fifty day simple moving average is $60.74 and its two-hundred day simple moving average is $55.84. SPX has a 12-month low of $36.39 and a 12-month high of $66.19. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.53 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.60.

SPX Company Profile

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. The HVAC segment engineers, designs, manufactures, installs, and services cooling products for the HVAC and industrial markets under the Marley and Recold brands; boilers, comfort heating, and ventilation products for the residential and commercial markets under the Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, and Williamson-Thermoflo brand names; and cooling towers.

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Earnings History and Estimates for SPX (NYSE:SPXC)

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