SPX Co. (SPW) Announces Quarterly Dividend of $0.38
SPX (NYSE:SPW) declared a quarterly dividend on Wednesday, May 28th, American Banking News.com reports. Investors of record on Monday, June 16th will be given a dividend of 0.375 per share on Wednesday, July 2nd. This represents a $1.50 dividend on an annualized basis and a yield of 1.42%.
SPW has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of SPX from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $112.00 price target on the stock, down previously from $115.00. They noted that the move was a valuation call. On the ratings front, analysts at Credit Suisse raised their price target on shares of SPX from $109.00 to $110.00 in a research note on Thursday, May 1st. Finally, analysts at Morgan Stanley raised their price target on shares of SPX from $117.00 to $118.00 in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $102.00.
SPX (NYSE:SPW) opened at 105.28 on Wednesday. SPX has a 52-week low of $69.27 and a 52-week high of $109.89. The stock’s 50-day moving average is $101.0 and its 200-day moving average is $99.69. The company has a market cap of $4.613 billion and a price-to-earnings ratio of 9.20.
SPX (NYSE:SPW) last released its earnings data on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts expect that SPX will post $5.37 EPS for the current fiscal year.
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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