Brokerages Anticipate SPX Co. (SPXC) to Post $0.23 Earnings Per Share
Shares of SPX Co. (NASDAQ:SPXC) have been assigned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokers have set a one year consensus target price of $23.00 for the company and are forecasting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given SPX an industry rank of 168 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday.
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Shares of SPX (NASDAQ:SPXC) opened at 22.50 on Thursday. SPX has a 12-month low of $14.00 and a 12-month high of $28.13. The firm’s market capitalization is $950.06 million. The company’s 50 day moving average is $24.22 and its 200 day moving average is $23.35.
SPX (NASDAQ:SPXC) last released its quarterly earnings data on Thursday, February 23rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The company earned $395.30 million during the quarter, compared to analyst estimates of $467.56 million. The company’s quarterly revenue was down 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, analysts forecast that SPX will post $1.64 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in SPXC. Pacad Investment Ltd. increased its stake in SPX by 483.3% in the fourth quarter. Pacad Investment Ltd. now owns 7,000 shares of the company’s stock valued at $166,000 after buying an additional 5,800 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of SPX by 13.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,500 shares of the company’s stock valued at $171,000 after buying an additional 1,000 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of SPX by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the company’s stock valued at $186,000 after buying an additional 140 shares in the last quarter. BlackRock Inc. increased its stake in shares of SPX by 0.6% in the third quarter. BlackRock Inc. now owns 11,367 shares of the company’s stock valued at $229,000 after buying an additional 63 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of SPX during the third quarter valued at about $239,000.
SPX Company Profile
SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.
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