SPX (NYSE:SPXC) Posts Earnings Results, Beats Expectations By $0.15 EPS

SPX (NYSE:SPXC) announced its quarterly earnings results on Thursday. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.15, Bloomberg Earnings reports. SPX had a net margin of 4.44% and a return on equity of 26.49%. The firm had revenue of $372.40 million during the quarter, compared to analysts’ expectations of $354.65 million. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. SPX updated its FY 2019 guidance to $2.60-2.72 EPS and its FY19 guidance to $2.60-2.72 EPS.

SPX stock traded up $2.48 during trading on Friday, reaching $36.60. 758,662 shares of the company’s stock were exchanged, compared to its average volume of 201,874. The business’s 50-day simple moving average is $33.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.12. SPX has a 52-week low of $25.22 and a 52-week high of $39.28. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 16.64 and a beta of 1.45.

In related news, CAO Michael Andrew Reilly sold 45,899 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $32.71, for a total transaction of $1,501,356.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.21% of the stock is currently owned by corporate insiders.

Separately, Zacks Investment Research raised shares of SPX from a “sell” rating to a “hold” rating in a research report on Saturday.

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. It operates in three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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Earnings History for SPX (NYSE:SPXC)

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