SPX (SPXC) Updates FY19 Earnings Guidance
SPX (NYSE:SPXC) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $2.50-2.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.54. The company issued revenue guidance of ~$1.5 billion, compared to the consensus revenue estimate of $1.53 billion.
A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of SPX from a sell rating to a hold rating in a research report on Monday, December 17th. Buckingham Research dropped their target price on shares of SPX from $41.00 to $37.00 and set a buy rating for the company in a research report on Friday, November 2nd. Finally, Zacks Investment Research upgraded shares of SPX from a sell rating to a hold rating in a research report on Thursday, December 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $35.67.
NYSE:SPXC traded up $0.13 during mid-day trading on Thursday, reaching $32.05. 248,348 shares of the company were exchanged, compared to its average volume of 234,005. SPX has a 12 month low of $25.22 and a 12 month high of $39.28. The company has a quick ratio of 0.91, a current ratio of 1.18 and a debt-to-equity ratio of 0.92. The firm has a market cap of $1.32 billion, a P/E ratio of 18.01 and a beta of 1.31.
SPX Corporation supplies infrastructure equipment serving the heating and ventilation (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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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