SPX Corp. Sets New 1-Year High at $86.65 (SPW)
SPX Corp. (NYSE:SPW) set a new 52-week high on Tuesday, American Banking & Market News reports. The company traded as high as $86.65 and last traded at $84.72, with a volume of 221,754 shares. The stock had previously closed at $84.64.
A number of research firms have recently commented on SPW. Analysts at JPMorgan Chase & Co. upgraded shares of SPX Corp. (NYSE:SPW) from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday, September 11th. They now have a $89.00 price target on the stock. Separately, analysts at Barclays Capital downgraded shares of SPX Corp. (NYSE:SPW) from a “best ideas list” rating to an “overweight” rating in a research note to investors on Monday, August 19th. Finally, analysts at Wedbush raised their price target on shares of SPX Corp. (NYSE:SPW) from $72.00 to $74.00 in a research note to investors on Tuesday, August 6th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. SPX Corp. has an average rating of “Hold” and a consensus target price of $83.47.
SPX Corp. has a 52 week low of $60.61 and a 52 week high of $86.65. The stock has a 50-day moving average of $79.03 and a 200-day moving average of $76.70. The company has a market cap of $3.863 billion and a price-to-earnings ratio of 16.94.
SPX Corp. (NYSE:SPW) last announced its earnings results on Wednesday, July 31st. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.65 by $0.15. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts predict that SPX Corp. will post $4.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, September 12th.
SPX Corporation is a global, multi-industry manufacturer of specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries globally.
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