SPX Corp (NASDAQ:SPXC) – Research analysts at William Blair increased their FY2017 earnings per share (EPS) estimates for shares of SPX Corp in a research report issued to clients and investors on Friday. William Blair analyst N. Heymann now forecasts that the company will post earnings of $1.80 per share for the year, up from their prior estimate of $1.75. William Blair also issued estimates for SPX Corp’s Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.48 EPS and Q4 2018 earnings at $0.66 EPS.

SPX Corp (NASDAQ:SPXC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The company had revenue of $348.50 million during the quarter, compared to the consensus estimate of $343.12 million. During the same period in the previous year, the firm earned $0.14 earnings per share. SPX Corp’s revenue for the quarter was up 1.0% on a year-over-year basis.

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Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, August 8th. UBS AG boosted their price objective on shares of SPX Corp from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BidaskClub upgraded shares of SPX Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th.

Shares of SPX Corp (NASDAQ SPXC) opened at $31.47 on Monday.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in SPX Corp by 54,864.3% during the first quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock worth $133,635,000 after buying an additional 5,500,697 shares during the period. Vanguard Group Inc. grew its stake in SPX Corp by 12.1% during the second quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock worth $106,465,000 after buying an additional 455,828 shares during the period. State Street Corp lifted its position in shares of SPX Corp by 6.0% during the first quarter. State Street Corp now owns 1,019,770 shares of the company’s stock worth $24,727,000 after purchasing an additional 57,579 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SPX Corp by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 967,014 shares of the company’s stock worth $24,330,000 after purchasing an additional 37,135 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of SPX Corp by 26.2% during the third quarter. Peregrine Capital Management LLC now owns 845,671 shares of the company’s stock worth $24,812,000 after purchasing an additional 175,601 shares in the last quarter.

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.

Earnings History and Estimates for SPX Corp (NASDAQ:SPXC)

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