SPX (NYSE:SPXC) Releases FY 2019 Earnings Guidance

SPX (NYSE:SPXC) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.60-2.72 for the period, compared to the Thomson Reuters consensus estimate of $2.58. The company issued revenue guidance of $1.5-1.5 billion, compared to the consensus revenue estimate of $1.5 billion.SPX also updated its FY19 guidance to $2.60-2.72 EPS.

Separately, Zacks Investment Research raised SPX from a sell rating to a hold rating in a research note on Saturday.

NYSE SPXC traded up $2.48 during trading hours on Friday, reaching $36.60. 758,662 shares of the company’s stock were exchanged, compared to its average volume of 201,874. The business’s 50-day moving average price is $33.48. SPX has a one year low of $25.22 and a one year high of $39.28. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.12 and a quick ratio of 0.81. The firm has a market capitalization of $1.53 billion, a P/E ratio of 16.64 and a beta of 1.45.

SPX (NYSE:SPXC) last posted its earnings results on Thursday, August 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.15. SPX had a return on equity of 26.49% and a net margin of 4.44%. The business had revenue of $372.40 million during the quarter, compared to analysts’ expectations of $354.65 million. During the same period in the prior year, the business earned $0.53 EPS. SPX’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts predict that SPX will post 2.6 EPS for the current year.

In related news, CAO Michael Andrew Reilly sold 45,899 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $32.71, for a total transaction of $1,501,356.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.21% of the stock is currently owned by corporate insiders.

About SPX

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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