SPX (NYSE:SPXC) Updates FY19 Earnings Guidance

SPX (NYSE:SPXC) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $2.60-2.72 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.60. SPX also updated its FY 2019 guidance to $2.60-2.72 EPS.

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

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

SPX (NYSE:SPXC) last announced its earnings results on Thursday, August 1st. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.15. SPX had a net margin of 4.44% and a return on equity of 26.49%. The business 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 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that SPX will post 2.6 earnings per share for the current year.

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

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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