Wall Street analysts expect SPX Co. (NYSE:SPXC) to report $392.27 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for SPX's earnings, with the lowest sales estimate coming in at $387.40 million and the highest estimate coming in at $394.90 million. SPX posted sales of $369.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, April 29th.
According to Zacks, analysts expect that SPX will report full-year sales of $1.65 billion for the current year, with estimates ranging from $1.65 billion to $1.66 billion. For the next financial year, analysts anticipate that the company will post sales of $1.71 billion, with estimates ranging from $1.69 billion to $1.72 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that cover SPX.
SPX (NYSE:SPXC) last issued its quarterly earnings data on Monday, February 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.94 by ($0.05). The company had revenue of $456.80 million for the quarter, compared to analyst estimates of $437.20 million. SPX had a return on equity of 24.19% and a net margin of 6.68%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share.
SPXC has been the topic of a number of recent research reports. Oppenheimer restated a "buy" rating and issued a $64.00 target price on shares of SPX in a report on Wednesday, February 24th. Zacks Investment Research downgraded shares of SPX from a "hold" rating to a "sell" rating in a research note on Friday, February 26th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. The stock currently has an average rating of "Buy" and a consensus price target of $56.67.
Shares of NYSE:SPXC opened at $58.87 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.67 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.53 and a beta of 1.37. SPX has a 52-week low of $30.78 and a 52-week high of $62.13. The stock's fifty day simple moving average is $57.90 and its 200-day simple moving average is $53.14.
In other news, insider John William Swann III sold 19,663 shares of the company's stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $57.71, for a total transaction of $1,134,751.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.39% of the company's stock.
Several institutional investors and hedge funds have recently made changes to their positions in SPXC. Price T Rowe Associates Inc. MD increased its holdings in shares of SPX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,776,453 shares of the company's stock worth $205,968,000 after buying an additional 579,148 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in SPX by 244.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 724,385 shares of the company's stock worth $39,508,000 after acquiring an additional 513,785 shares during the last quarter. Norges Bank purchased a new position in shares of SPX in the 4th quarter worth about $27,058,000. Janus Henderson Group PLC lifted its stake in shares of SPX by 803.7% in the 4th quarter. Janus Henderson Group PLC now owns 537,816 shares of the company's stock valued at $29,332,000 after purchasing an additional 478,301 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of SPX during the 4th quarter worth about $15,750,000. Institutional investors own 90.54% of the company's stock.
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. The HVAC segment engineers, designs, manufactures, installs, and services cooling products for the HVAC and industrial markets under the Marley and Recold brands; boilers, comfort heating, and ventilation products for the residential and commercial markets under the Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, and Williamson-Thermoflo brand names; and cooling towers.
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