Zacks: Brokerages Expect SPX Co. (NYSE:SPXC) Will Post Quarterly Sales of $305.97 Million

Brokerages expect SPX Co. (NYSE:SPXCGet Rating) to announce $305.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for SPX’s earnings. The highest sales estimate is $311.60 million and the lowest is $299.30 million. SPX posted sales of $398.50 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 23.2%. The business is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that SPX will report full year sales of $1.38 billion for the current fiscal year, with estimates ranging from $1.36 billion to $1.39 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.44 billion, with estimates ranging from $1.41 billion to $1.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SPX.

SPX (NYSE:SPXCGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. SPX had a net margin of 31.99% and a return on equity of 12.88%. The business had revenue of $350.00 million for the quarter, compared to the consensus estimate of $357.08 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis.

SPXC has been the topic of several analyst reports. Zacks Investment Research raised shares of SPX from a “sell” rating to a “hold” rating in a report on Tuesday, March 1st. began coverage on shares of SPX in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, TheStreet downgraded shares of SPX from a “b-” rating to a “c” rating in a report on Monday, March 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SPX presently has a consensus rating of “Hold” and a consensus price target of $70.00.

Hedge funds have recently bought and sold shares of the business. Spire Wealth Management bought a new position in SPX during the fourth quarter valued at $40,000. Quent Capital LLC bought a new position in shares of SPX in the fourth quarter worth about $46,000. Point72 Hong Kong Ltd bought a new position in shares of SPX in the third quarter worth about $47,000. Dark Forest Capital Management LP bought a new position in shares of SPX in the third quarter worth about $93,000. Finally, Wilen Investment Management CORP. bought a new position in shares of SPX in the third quarter worth about $101,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

Shares of NYSE:SPXC opened at $43.91 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.62. SPX has a 1-year low of $41.66 and a 1-year high of $68.24. The stock has a market capitalization of $2.01 billion, a P/E ratio of 4.80, a P/E/G ratio of 0.87 and a beta of 1.37. The firm’s 50 day moving average price is $47.67.

SPX Company Profile (Get Rating)

SPX Corporation supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions for the HVAC, and industrial markets; and heating and ventilation products for the residential and commercial markets.

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