SPX (NYSE:SPXC) Releases FY 2019 Earnings Guidance

SPX (NYSE:SPXC) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $2.60-2.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.58. The company issued revenue guidance of $1.5-1.5 billion, compared to the consensus revenue estimate of $1.5 billion.

Shares of SPXC traded down $0.78 on Thursday, reaching $34.12. 358,500 shares of the company’s stock traded hands, compared to its average volume of 237,022. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.12. The firm has a market capitalization of $1.50 billion, a PE ratio of 15.51 and a beta of 1.47. The business has a 50 day moving average price of $33.41. SPX has a 52-week low of $25.22 and a 52-week high of $39.28.

SPX (NYSE:SPXC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $351.50 million during the quarter, compared to the consensus estimate of $344.50 million. SPX had a return on equity of 26.49% and a net margin of 4.44%. SPX’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. As a group, analysts forecast that SPX will post 2.6 earnings per share for the current year.

Separately, Zacks Investment Research lowered SPX from a hold rating to a sell rating in a report on Wednesday, July 24th.

In other SPX news, CAO Michael Andrew Reilly sold 45,899 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $32.71, for a total transaction of $1,501,356.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.21% of the stock is currently owned by corporate 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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