SPX (NYSE:SPXC) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.250-$2.450 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.390. The company issued revenue guidance of $1.25 billion-$1.25 billion, compared to the consensus revenue estimate of $1.53 billion.
Shares of NYSE:SPXC traded down $0.49 during mid-day trading on Friday, reaching $61.25. The stock had a trading volume of 192,656 shares, compared to its average volume of 174,782. The firm has a market cap of $2.78 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.35. The firm has a 50 day simple moving average of $63.19 and a two-hundred day simple moving average of $60.89. The company has a current ratio of 1.27, a quick ratio of 1.05 and a debt-to-equity ratio of 0.33. SPX has a twelve month low of $39.74 and a twelve month high of $67.66.
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SPX (NYSE:SPXC) last announced its quarterly earnings results on Thursday, August 5th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The business had revenue of $296.70 million for the quarter, compared to the consensus estimate of $294.55 million. SPX had a net margin of 8.95% and a return on equity of 19.19%. On average, equities analysts anticipate that SPX will post 2.35 EPS for the current fiscal year.
A number of analysts recently weighed in on SPXC shares. Oppenheimer increased their price target on shares of SPX from $72.00 to $74.00 and gave the company an outperform rating in a research report on Friday, August 6th. Zacks Investment Research downgraded shares of SPX from a buy rating to a hold rating in a report on Tuesday, August 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $72.50.
An institutional investor recently raised its position in SPX stock. Morgan Stanley boosted its stake in shares of SPX Co. (NYSE:SPXC) by 25.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 293,084 shares of the company’s stock after buying an additional 58,634 shares during the period. Morgan Stanley owned approximately 0.65% of SPX worth $17,902,000 as of its most recent filing with the SEC. 85.85% of the stock is currently owned by institutional investors.
SPX Company Profile
SPX Corp. is the supplier of infrastructure equipment and products. It operates through the following segments: HVAC, Detection and Measurement, and Engineered Solutions. The HVAC segment engineers, designs, manufactures, installs, and services cooling products for the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.
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