Somewhat Favorable Media Coverage Somewhat Unlikely to Affect SPX Corp (SPXC) Stock Price
Press coverage about SPX Corp (NASDAQ:SPXC) has trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. SPX Corp earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned news articles about the company an impact score of 46.7892832686977 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Separately, Zacks Investment Research raised SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, May 10th.
SPX Corp (NASDAQ:SPXC) traded up 0.63% during mid-day trading on Wednesday, hitting $23.91. The stock had a trading volume of 155,858 shares. The stock’s market cap is $1.02 billion. The firm has a 50-day moving average of $26.47 and a 200-day moving average of $25.34. SPX Corp has a 52-week low of $15.49 and a 52-week high of $29.25.
SPX Corp (NASDAQ:SPXC) last released its earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.09. The company had revenue of $349.70 million during the quarter, compared to the consensus estimate of $354.84 million. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The company’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, analysts forecast that SPX Corp will post $1.75 EPS for the current fiscal year.
About SPX Corp
SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.
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