SPX (NYSE:SPXC) Issues Earnings Results

SPX (NYSE:SPXC) released its quarterly earnings results on Thursday. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02, Bloomberg Earnings reports. SPX had a return on equity of 27.82% and a net margin of 5.18%. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $438.75 million. SPX updated its FY 2020
After-Hours guidance to 2.90-3.05 EPS and its FY20 guidance to $2.90-3.05 EPS.

Shares of NYSE:SPXC traded down $1.17 during trading on Friday, hitting $51.77. The stock had a trading volume of 33,772 shares, compared to its average volume of 272,652. SPX has a 12-month low of $29.59 and a 12-month high of $53.76. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 29.23 and a beta of 1.45. The company has a quick ratio of 0.87, a current ratio of 1.21 and a debt-to-equity ratio of 0.70. The stock has a 50-day simple moving average of $51.06 and a two-hundred day simple moving average of $44.52.

Several research analysts have recently issued reports on SPXC shares. UBS Group cut SPX from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $56.00 in a research note on Tuesday, January 7th. ValuEngine cut SPX from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Buckingham Research raised their price objective on SPX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. They noted that the move was a valuation call. Sidoti started coverage on SPX in a research note on Friday, October 18th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Vertical Research cut SPX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. SPX currently has an average rating of “Hold” and an average target price of $53.60.

In related news, insider Brian G. Mason sold 25,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $50.94, for a total transaction of $1,273,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.21% of the company’s stock.

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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Earnings History for SPX (NYSE:SPXC)

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