SPX (NYSE:SPXC) Releases FY 2021 Earnings Guidance

SPX (NYSE:SPXC) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.170-2.370 for the period, compared to the Thomson Reuters consensus estimate of $3.200. The company issued revenue guidance of $1.25 billion-1.25 billion, compared to the consensus revenue estimate of $1.69 billion.

NYSE:SPXC opened at $60.18 on Friday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.28 and a beta of 1.35. SPX has a 52-week low of $37.20 and a 52-week high of $66.19. The company’s fifty day simple moving average is $61.26. The company has a quick ratio of 0.90, a current ratio of 1.19 and a debt-to-equity ratio of 0.43.

SPX (NYSE:SPXC) last issued its quarterly earnings results on Thursday, May 6th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. SPX had a return on equity of 21.62% and a net margin of 6.36%. The firm had revenue of $397.80 million during the quarter, compared to analyst estimates of $392.17 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that SPX will post 3.22 earnings per share for the current year.

A number of research analysts recently issued reports on the company. Oppenheimer restated a buy rating and set a $68.00 price target on shares of SPX in a report on Tuesday, April 20th. Zacks Investment Research downgraded SPX from a buy rating to a hold rating in a report on Wednesday, May 12th. Finally, Sidoti started coverage on SPX in a report on Tuesday, April 20th. They set a buy rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. SPX presently has an average rating of Buy and an average target price of $68.50.

SPX Company Profile

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. The HVAC segment engineers, designs, manufactures, installs, and services cooling products for the HVAC and industrial markets under the Marley and Recold brands; boilers, comfort heating, and ventilation products for the residential and commercial markets under the Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, and Williamson-Thermoflo brand names; and cooling towers.

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Earnings History and Estimates for SPX (NYSE:SPXC)

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