SPX (SPXC) Releases FY 2018 Earnings Guidance

SPX (NYSE:SPXC) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the Thomson Reuters consensus estimate of $2.27. SPX also updated its FY18 guidance to $2.15-2.25 EPS.

Shares of SPX stock traded down $1.81 on Friday, hitting $28.48. The company had a trading volume of 458,537 shares, compared to its average volume of 241,440. The stock has a market capitalization of $1.23 billion, a PE ratio of 14.68 and a beta of 1.48. SPX has a twelve month low of $28.21 and a twelve month high of $39.28. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

SPX (NYSE:SPXC) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.09). The company had revenue of $362.50 million during the quarter, compared to analyst estimates of $348.90 million. SPX had a net margin of 7.93% and a return on equity of 27.30%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. Equities analysts anticipate that SPX will post 2.2 EPS for the current fiscal year.

Several brokerages recently commented on SPXC. Zacks Investment Research upgraded shares of SPX from a hold rating to a buy rating and set a $41.00 target price for the company in a report on Tuesday, July 10th. ValuEngine cut shares of SPX from a buy rating to a hold rating in a report on Wednesday, August 15th. Finally, Buckingham Research began coverage on shares of SPX in a report on Tuesday, September 18th. They set a buy rating and a $41.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $37.75.

In related news, insider Michael Andrew Reilly sold 21,852 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $35.82, for a total transaction of $782,738.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

About SPX

SPX Corporation supplies infrastructure equipment serving the heating and ventilation (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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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