Research analysts at FBR Capital lifted their target price on shares of SPX Corp (NYSE: SPW) from $78.00 to $85.00 in a report released on Monday. The firm currently has an “outperform” rating on the stock.
Shares of SPX Corp (NYSE: SPW) opened at 81.60 on Monday. SPX Corp has a 52 week low of $56.31 and a 52 week high of $85.82. The stock’s 50-day moving average is currently $78.29. The company has a market cap of $3.834 billion and a P/E ratio of 15.75.
SPX Corp (NYSE: SPW) last announced its earnings results on Thursday, February 14th. The company reported $1.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.56 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company posted $1.79 earnings per share. SPX Corp’s revenue was up 14.1% compared to the same quarter last year. SPX Corp has set its FY13 guidance at $4.60-5.10 EPS. Analysts expect that SPX Corp will post $4.95 EPS for the current fiscal year.
SPW has been the subject of a number of other recent research reports. Analysts at TheStreet downgraded shares of SPX Corp from a “buy” rating to a “hold” rating in a research note to investors on Monday, February 18th. Separately, analysts at Robert W. Baird raised their price target on shares of SPX Corp from $86.00 to $95.00 in a research note to investors on Friday, February 15th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of SPX Corp from $74.00 to $76.00 in a research note to investors on Friday, February 15th. They now have a “neutral” rating on the stock.
Nine research analysts have rated the stock with a buy rating, three have issued an overweight rating, and five have given a hold rating to the stock. The stock presently has an average rating of “overweight” and an average price target of $83.44.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 2nd. Investors of record on Thursday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Tuesday, March 12th.
SPX Corporation is a global, multi-industry manufacturer of specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries globally.
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