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.
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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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