Q3 2017 EPS Estimates for SPX Corp Raised by Analyst (SPXC)
SPX Corp (NASDAQ:SPXC) – Investment analysts at William Blair boosted their Q3 2017 earnings per share (EPS) estimates for shares of SPX Corp in a research report issued on Thursday. William Blair analyst N. Heymann now anticipates that the company will post earnings of $0.31 per share for the quarter, up from their prior forecast of $0.27. William Blair also issued estimates for SPX Corp’s Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $1.75 EPS and FY2018 earnings at $2.15 EPS.
SPX Corp (NASDAQ:SPXC) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.09. The firm had revenue of $349.70 million for the quarter, compared to the consensus estimate of $354.84 million. SPX Corp had a net margin of 3.02% and a return on equity of 20.52%. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. TRADEMARK VIOLATION NOTICE: “Q3 2017 EPS Estimates for SPX Corp Raised by Analyst (SPXC)” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/08/07/q3-2017-eps-estimates-for-spx-corp-raised-by-analyst-spxc.html.
Separately, Zacks Investment Research upgraded SPX Corp from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, April 19th.
SPX Corp (NASDAQ SPXC) opened at 26.87 on Monday. SPX Corp has a 12-month low of $14.43 and a 12-month high of $29.25. The firm’s 50-day moving average is $26.35 and its 200-day moving average is $25.25. The stock’s market capitalization is $1.14 billion.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of SPX Corp by 54,864.3% in the first quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock valued at $133,635,000 after buying an additional 5,500,697 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of SPX Corp by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the company’s stock valued at $113,000 after buying an additional 140 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of SPX Corp by 38.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 32,200 shares of the company’s stock valued at $781,000 after buying an additional 9,000 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of SPX Corp during the first quarter valued at $113,000. Finally, Citadel Advisors LLC increased its position in shares of SPX Corp by 104.0% in the first quarter. Citadel Advisors LLC now owns 51,503 shares of the company’s stock valued at $1,249,000 after buying an additional 26,251 shares during the last quarter.
About SPX Corp
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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