SPX Co. Announces Quarterly Dividend of $0.38 (SPW)
SPX (NYSE:SPW) announced a quarterly dividend on Thursday, August 21st, American Banking News reports. Investors of record on Monday, September 15th will be paid a dividend of 0.375 per share on Thursday, October 2nd. This represents a $1.50 annualized dividend and a dividend yield of 1.44%.
A number of research firms have recently commented on SPW. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of SPX in a research note on Monday, August 11th. They now have a $119.00 price target on the stock, down previously from $121.00. On a related note, analysts at Wedbush raised their price target on shares of SPX from $107.00 to $110.00 in a research note on Friday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $108.27.
SPX (NYSE:SPW) opened at 103.88 on Thursday. SPX has a 1-year low of $73.15 and a 1-year high of $111.47. The stock has a 50-day moving average of $104.1 and a 200-day moving average of $103.2. The company has a market cap of $4.421 billion and a price-to-earnings ratio of 8.87.
SPX (NYSE:SPW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.19 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that SPX will post $5.27 earnings per share 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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