SPX Corp (SPXC) Releases Earnings Results, Beats Expectations By $0.08 EPS
SPX Corp (NASDAQ:SPXC) announced its quarterly earnings results on Wednesday. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.08, Bloomberg Earnings reports. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The firm had revenue of $348.50 million for the quarter, compared to analyst estimates of $343.12 million. During the same period last year, the business earned $0.14 EPS. SPX Corp’s revenue for the quarter was up 1.0% compared to the same quarter last year.
Shares of SPX Corp (NASDAQ:SPXC) traded up $2.87 during trading hours on Friday, reaching $31.53. 227,857 shares of the company traded hands.
SPXC has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, August 8th. BidaskClub upgraded shares of SPX Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th.
SPX Corp 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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