William Blair Analysts Lower Earnings Estimates for SPX Corp (SPXC)

SPX Corp (NYSE:SPXC) – Research analysts at William Blair cut their Q2 2018 EPS estimates for shares of SPX in a note issued to investors on Friday. William Blair analyst N. Heymann now forecasts that the company will post earnings of $0.52 per share for the quarter, down from their previous forecast of $0.53. William Blair also issued estimates for SPX’s Q4 2018 earnings at $0.67 EPS.

A number of other research analysts have also weighed in on SPXC. UBS Group lifted their target price on SPX from $36.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, November 7th. TheStreet raised SPX from a “d+” rating to a “c” rating in a report on Monday, November 6th. ValuEngine lowered SPX from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Susquehanna Bancshares set a $32.00 target price on SPX and gave the company a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SPX has a consensus rating of “Buy” and an average price target of $36.00.

SPX (NYSE SPXC) opened at $30.94 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1,318.33, a PE ratio of 17.38 and a beta of 1.64. SPX has a twelve month low of $21.97 and a twelve month high of $33.93.

SPX (NYSE:SPXC) last posted its earnings results on Thursday, February 15th. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). The company had revenue of $387.00 million for the quarter, compared to analysts’ expectations of $396.35 million. SPX had a net margin of 6.26% and a return on equity of 31.70%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS.

Several hedge funds and other institutional investors have recently modified their holdings of SPXC. Wells Fargo & Company MN grew its holdings in shares of SPX by 10.5% during the second quarter. Wells Fargo & Company MN now owns 46,186 shares of the company’s stock worth $1,162,000 after purchasing an additional 4,398 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of SPX by 4.5% during the second quarter. Alliancebernstein L.P. now owns 53,935 shares of the company’s stock worth $1,357,000 after purchasing an additional 2,300 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of SPX by 5.6% during the second quarter. New York State Common Retirement Fund now owns 45,600 shares of the company’s stock worth $1,147,000 after purchasing an additional 2,399 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of SPX by 45.0% during the second quarter. UBS Asset Management Americas Inc. now owns 12,565 shares of the company’s stock worth $316,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of SPX by 4.6% during the second quarter. Northern Trust Corp now owns 553,246 shares of the company’s stock worth $13,919,000 after purchasing an additional 24,280 shares in the last quarter. 86.15% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This report was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://ledgergazette.com/2018/02/20/william-blair-analysts-lower-earnings-estimates-for-spx-corp-spxc.html.

About SPX

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.

Receive News & Ratings for SPX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply