Brokerages Expect SPX Corp (SPXC) to Announce $0.31 Earnings Per Share

Shares of SPX Corp (NASDAQ:SPXC) have earned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Zacks has also given SPX Corp an industry rank of 228 out of 265 based on the ratings given to its competitors.

SPXC has been the topic of several analyst reports. Zacks Investment Research downgraded SPX Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub raised SPX Corp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th.

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SPX Corp (NASDAQ SPXC) opened at 30.05 on Friday. The company has a 50 day moving average of $25.53 and a 200 day moving average of $25.30. The company’s market capitalization is $1.28 billion. SPX Corp has a 52-week low of $15.49 and a 52-week high of $30.37.

SPX Corp (NASDAQ:SPXC) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.09. SPX Corp had a negative return on equity of 15.86% and a negative net margin of 2.37%. The business had revenue of $349.70 million for the quarter, compared to the consensus estimate of $354.84 million. During the same quarter in the previous year, the company posted $0.33 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts forecast that SPX Corp will post $1.75 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of SPX Corp by 54,864.3% in the first quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock valued at $133,635,000 after purchasing an additional 5,500,697 shares during the period. Vanguard Group Inc. grew its holdings in SPX Corp by 12.1% during the second quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock worth $106,465,000 after acquiring an additional 455,828 shares during the period. State Street Corp grew its holdings in SPX Corp by 6.0% during the first quarter. State Street Corp now owns 1,019,770 shares of the company’s stock worth $24,727,000 after acquiring an additional 57,579 shares during the period. Dimensional Fund Advisors LP grew its holdings in SPX Corp by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 967,014 shares of the company’s stock worth $24,330,000 after acquiring an additional 37,135 shares during the period. Finally, Peregrine Capital Management LLC grew its holdings in SPX Corp by 26.2% during the third quarter. Peregrine Capital Management LLC now owns 845,671 shares of the company’s stock worth $24,812,000 after acquiring an additional 175,601 shares during the period.

SPX Corp Company Profile

SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.

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