Brokers Offer Predictions for SPX Corp’s Q3 2019 Earnings (NYSE:SPXC)

SPX Corp (NYSE:SPXC) – Investment analysts at Seaport Global Securities issued their Q3 2019 earnings per share (EPS) estimates for SPX in a report released on Tuesday, October 22nd. Seaport Global Securities analyst W. Liptak anticipates that the company will earn $0.51 per share for the quarter. Seaport Global Securities currently has a “Buy” rating and a $50.00 target price on the stock. Seaport Global Securities also issued estimates for SPX’s Q4 2019 earnings at $0.99 EPS, FY2019 earnings at $2.68 EPS, Q1 2020 earnings at $0.51 EPS, Q2 2020 earnings at $0.69 EPS, Q3 2020 earnings at $0.60 EPS, Q4 2020 earnings at $1.11 EPS, FY2020 earnings at $2.90 EPS, Q1 2021 earnings at $0.56 EPS, Q2 2021 earnings at $0.74 EPS, Q3 2021 earnings at $0.65 EPS and FY2021 earnings at $3.11 EPS.

SPX (NYSE:SPXC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.15. The company had revenue of $372.40 million for the quarter, compared to analysts’ expectations of $354.65 million. SPX had a net margin of 4.21% and a return on equity of 26.81%. SPX’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of SPX from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Sidoti initiated coverage on shares of SPX in a research note on Friday, October 18th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Buckingham Research boosted their price objective on shares of SPX from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. SPX has an average rating of “Buy” and a consensus target price of $48.25.

Shares of SPXC opened at $42.32 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.84 and a current ratio of 1.17. The stock has a market capitalization of $1.83 billion, a P/E ratio of 19.24 and a beta of 1.39. The company’s fifty day moving average is $39.87 and its two-hundred day moving average is $35.66. SPX has a 1 year low of $25.22 and a 1 year high of $42.43.

Several large investors have recently bought and sold shares of SPXC. Atria Investments LLC acquired a new position in shares of SPX during the 2nd quarter worth $5,243,000. Wells Fargo & Company MN grew its stake in shares of SPX by 81.4% during the 2nd quarter. Wells Fargo & Company MN now owns 1,101,092 shares of the company’s stock worth $36,359,000 after purchasing an additional 493,932 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of SPX during the 2nd quarter worth $13,402,000. Mesirow Financial Investment Management Equity Management grew its stake in shares of SPX by 23,528.4% during the 2nd quarter. Mesirow Financial Investment Management Equity Management now owns 207,930 shares of the company’s stock worth $6,866,000 after purchasing an additional 207,050 shares during the period. Finally, BlackRock Inc. grew its stake in shares of SPX by 2.8% during the 2nd quarter. BlackRock Inc. now owns 6,435,989 shares of the company’s stock worth $212,517,000 after purchasing an additional 173,894 shares during the period. 87.31% of the stock is currently owned by institutional investors and hedge funds.

SPX Company Profile

SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates in three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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Earnings History and Estimates for SPX (NYSE:SPXC)

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