SPX Technologies (SPXC) Set to Announce Earnings on Thursday

SPX Technologies (NYSE:SPXC) will post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect SPX Technologies to post earnings of $1.07 per share for the quarter. SPX Technologies has set its FY24 guidance at $4.85-5.15 EPS and its FY 2024 guidance at 4.850-5.150 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 EPS for the quarter, meeting the consensus estimate of $1.25. The business had revenue of $469.40 million during the quarter, compared to analysts’ expectations of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 EPS. On average, analysts expect SPX Technologies to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $119.88 on Thursday. The firm has a market cap of $5.54 billion, a PE ratio of 62.44, a PEG ratio of 1.29 and a beta of 1.25. The firm has a fifty day moving average of $117.15 and a 200 day moving average of $101.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77. SPX Technologies has a one year low of $61.09 and a one year high of $124.81.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the sale, the insider now owns 82,884 shares in the company, valued at approximately $9,747,987.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the transaction, the chief executive officer now directly owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,373 shares of company stock valued at $10,962,146. Corporate insiders own 3.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SPXC shares. UBS Group upped their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Oppenheimer reiterated an “outperform” rating and issued a $134.00 price target (up from $124.00) on shares of SPX Technologies in a research note on Thursday, March 28th. Finally, StockNews.com lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 15th.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.