William Blair Research Analysts Lift Earnings Estimates for SPX Corp (SPXC)
SPX Corp (NASDAQ:SPXC) – Research analysts at William Blair increased their FY2017 earnings per share (EPS) estimates for shares of SPX Corp in a research report issued to clients and investors on Friday. William Blair analyst N. Heymann now forecasts that the company will post earnings of $1.80 per share for the year, up from their prior estimate of $1.75. William Blair also issued estimates for SPX Corp’s Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.48 EPS and Q4 2018 earnings at $0.66 EPS.
SPX Corp (NASDAQ:SPXC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The company had revenue of $348.50 million during the quarter, compared to the consensus estimate of $343.12 million. During the same period in the previous year, the firm earned $0.14 earnings per share. SPX Corp’s revenue for the quarter was up 1.0% on a year-over-year basis.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, August 8th. UBS AG boosted their price objective on shares of SPX Corp from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BidaskClub upgraded shares of SPX Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th.
Shares of SPX Corp (NASDAQ SPXC) opened at $31.47 on Monday.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in SPX Corp by 54,864.3% during the first quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock worth $133,635,000 after buying an additional 5,500,697 shares during the period. Vanguard Group Inc. grew its stake in SPX Corp by 12.1% during the second quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock worth $106,465,000 after buying an additional 455,828 shares during the period. State Street Corp lifted its position in shares of SPX Corp by 6.0% during the first quarter. State Street Corp now owns 1,019,770 shares of the company’s stock worth $24,727,000 after purchasing an additional 57,579 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SPX Corp by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 967,014 shares of the company’s stock worth $24,330,000 after purchasing an additional 37,135 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of SPX Corp by 26.2% during the third quarter. Peregrine Capital Management LLC now owns 845,671 shares of the company’s stock worth $24,812,000 after purchasing an additional 175,601 shares in 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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