Brokerages Anticipate SPX Corp (NYSE:SPXC) Will Post Quarterly Sales of $360.13 Million

Analysts forecast that SPX Corp (NYSE:SPXC) will announce sales of $360.13 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for SPX’s earnings, with the highest sales estimate coming in at $361.00 million and the lowest estimate coming in at $358.40 million. SPX posted sales of $343.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The firm is expected to issue its next earnings report on Thursday, May 7th.

On average, analysts expect that SPX will report full year sales of $1.57 billion for the current financial year, with estimates ranging from $1.52 billion to $1.60 billion. For the next financial year, analysts expect that the firm will report sales of $1.62 billion, with estimates ranging from $1.57 billion to $1.67 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow SPX.

SPX (NYSE:SPXC) last issued its earnings results on Thursday, February 13th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. SPX had a return on equity of 27.32% and a net margin of 4.65%. The business had revenue of $444.60 million during the quarter, compared to the consensus estimate of $438.75 million.

A number of brokerages recently commented on SPXC. Citigroup initiated coverage on SPX in a report on Tuesday, March 10th. They set an “outperform” rating and a $52.00 target price for the company. They noted that the move was a valuation call. UBS Group raised SPX from a “neutral” rating to a “buy” rating in a research report on Thursday. Vertical Research lowered SPX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Oppenheimer began coverage on SPX in a research report on Tuesday, March 10th. They set an “outperform” rating and a $52.00 price target on the stock. Finally, Buckingham Research lifted their target price on SPX from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $53.43.

Shares of NYSE SPXC traded up $1.59 during mid-day trading on Monday, reaching $30.05. 239,300 shares of the company’s stock were exchanged, compared to its average volume of 325,300. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.78 and a current ratio of 1.04. SPX has a 52-week low of $25.50 and a 52-week high of $53.76. The company’s 50-day moving average is $40.58 and its 200-day moving average is $45.17.

A number of institutional investors and hedge funds have recently modified their holdings of SPXC. NumerixS Investment Technologies Inc purchased a new position in SPX in the fourth quarter valued at about $25,000. Americana Partners LLC purchased a new position in SPX in the fourth quarter valued at about $33,000. Evoke Wealth LLC acquired a new stake in SPX during the third quarter valued at approximately $46,000. Point72 Asset Management L.P. acquired a new stake in SPX during the third quarter valued at approximately $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in SPX during the fourth quarter valued at approximately $62,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

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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