SPX (NYSE:SPXC) Releases FY20 Earnings Guidance

SPX (NYSE:SPXC) updated its FY20 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.90-3.05 for the period, compared to the Thomson Reuters consensus estimate of $2.93. The company issued revenue guidance of Approx $1.6 billion, compared to the consensus revenue estimate of $1.58 billion.SPX also updated its FY 2020
After-Hours guidance to 2.90-3.05 EPS.

Several equities research analysts have issued reports on the company. Buckingham Research lifted their price target 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. ValuEngine lowered SPX from a hold rating to a sell rating in a research note on Friday, January 10th. Seaport Global Securities assumed coverage on SPX in a research note on Tuesday, October 22nd. They set a buy rating and a $50.00 price target for the company. Vertical Research lowered SPX from a buy rating to a hold rating in a research note on Wednesday, January 8th. Finally, Zacks Investment Research upgraded SPX from a hold rating to a buy rating and set a $52.00 price objective on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $53.60.

Shares of SPXC traded down $0.81 during trading hours on Friday, hitting $52.13. The company had a trading volume of 839,493 shares. The stock’s 50 day moving average price is $51.08 and its 200 day moving average price is $44.60. SPX has a 52-week low of $29.59 and a 52-week high of $53.76.

SPX (NYSE:SPXC) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.02. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $438.75 million. Equities research analysts forecast that SPX will post 2.94 earnings per share for the current fiscal year.

In other news, insider Brian G. Mason sold 25,000 shares of SPX stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $50.94, for a total value of $1,273,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.21% of the stock is currently owned by 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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Earnings History and Estimates for SPX (NYSE:SPXC)

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