Brokers Set Expectations for SPX Co.’s Q3 2022 Earnings (NYSE:SPXC)

SPX Co. (NYSE:SPXCGet Rating) – Stock analysts at William Blair boosted their Q3 2022 earnings per share estimates for shares of SPX in a research note issued to investors on Thursday, May 5th. William Blair analyst N. Heymann now forecasts that the company will post earnings per share of $0.65 for the quarter, up from their prior forecast of $0.61. William Blair also issued estimates for SPX’s Q4 2022 earnings at $1.04 EPS, FY2022 earnings at $2.75 EPS and FY2023 earnings at $3.10 EPS.

Several other research analysts have also recently issued reports on the stock. TheStreet cut shares of SPX from a “b-” rating to a “c” rating in a report on Monday, March 21st. Zacks Investment Research cut shares of SPX from a “hold” rating to a “sell” rating in a report on Friday. Finally, StockNews.com upgraded shares of SPX from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.00.

NYSE SPXC opened at $45.01 on Monday. The business has a 50-day moving average of $47.38. The company has a current ratio of 2.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.06 billion, a PE ratio of 5.11, a PEG ratio of 0.94 and a beta of 1.37. SPX has a 12 month low of $41.66 and a 12 month high of $68.24.

SPX (NYSE:SPXCGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $307.10 million for the quarter, compared to analysts’ expectations of $302.90 million. SPX had a net margin of 33.11% and a return on equity of 10.15%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share.

Several large investors have recently bought and sold shares of SPXC. BlackRock Inc. raised its position in shares of SPX by 3.0% in the fourth quarter. BlackRock Inc. now owns 6,841,883 shares of the company’s stock worth $408,324,000 after acquiring an additional 198,537 shares during the period. State Street Corp raised its position in shares of SPX by 2.8% during the 4th quarter. State Street Corp now owns 1,547,751 shares of the company’s stock worth $92,370,000 after purchasing an additional 42,505 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of SPX by 2.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,159,306 shares of the company’s stock worth $69,190,000 after purchasing an additional 25,353 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of SPX by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,123,259 shares of the company’s stock worth $60,041,000 after purchasing an additional 3,878 shares during the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of SPX by 9.9% during the 4th quarter. GW&K Investment Management LLC now owns 780,498 shares of the company’s stock worth $46,580,000 after purchasing an additional 70,307 shares during the last quarter. 91.47% of the stock is owned by hedge funds and other institutional investors.

About SPX (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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Earnings History and Estimates for SPX (NYSE:SPXC)

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