SPX Flow (FLOW) Issues Earnings Results

SPX Flow (NYSE:FLOW) released its earnings results on Tuesday. The industrial products company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05, MarketWatch Earnings reports. The firm had revenue of $538.30 million for the quarter, compared to analysts’ expectations of $543.38 million. SPX Flow had a net margin of 4.89% and a return on equity of 9.59%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. SPX Flow updated its FY 2019 guidance to $2.40-2.75 EPS and its FY19 guidance to $2.40-$2.75 EPS.

NYSE:FLOW opened at $32.78 on Tuesday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 0.29 and a beta of 2.18. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.62 and a quick ratio of 1.12. SPX Flow has a fifty-two week low of $27.23 and a fifty-two week high of $54.92.

FLOW has been the topic of a number of recent research reports. Zacks Investment Research cut shares of SPX Flow from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine cut shares of SPX Flow from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. TheStreet cut shares of SPX Flow from a “b” rating to a “c+” rating in a research note on Monday, October 29th. Seaport Global Securities set a $45.00 price target on shares of SPX Flow and gave the company a “buy” rating in a research note on Wednesday, October 31st. Finally, Buckingham Research lowered their target price on shares of SPX Flow from $60.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. SPX Flow presently has a consensus rating of “Hold” and an average target price of $47.63.

Hedge funds have recently made changes to their positions in the company. Man Group plc grew its stake in shares of SPX Flow by 40.4% in the third quarter. Man Group plc now owns 229,969 shares of the industrial products company’s stock worth $11,958,000 after acquiring an additional 66,195 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of SPX Flow in the third quarter worth approximately $780,000. Russell Investments Group Ltd. grew its stake in shares of SPX Flow by 109.6% in the third quarter. Russell Investments Group Ltd. now owns 9,014 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 4,714 shares during the period. IndexIQ Advisors LLC grew its stake in shares of SPX Flow by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 46,214 shares of the industrial products company’s stock worth $2,403,000 after acquiring an additional 1,747 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of SPX Flow by 12.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,750,068 shares of the industrial products company’s stock worth $91,003,000 after acquiring an additional 198,058 shares during the period. Hedge funds and other institutional investors own 87.46% of the company’s stock.

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SPX Flow Company Profile

SPX FLOW, Inc provides various engineered solutions worldwide. The company engineers, designs, manufactures, and markets products and solutions used to process, blend, filter, dry, meter, and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems, and components, as well as aftermarket components and support services.

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Earnings History for SPX Flow (NYSE:FLOW)

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