SPX (NYSE:SPXC) Updates FY 2021 After-Hours Earnings Guidance

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SPX (NYSE:SPXC) issued an update on its FY 2021
After-Hours earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.00-3.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.12. The company issued revenue guidance of $1.6-1.6 billion, compared to the consensus revenue estimate of $1.6 billion.

SPXC traded up $0.14 on Tuesday, reaching $57.07. 225,052 shares of the company traded hands, compared to its average volume of 208,947. The stock’s 50 day moving average price is $56.04 and its 200-day moving average price is $49.70. SPX has a 52-week low of $25.50 and a 52-week high of $60.06. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.15 and a quick ratio of 0.83.

SPXC has been the topic of a number of research analyst reports. Oppenheimer boosted their price objective on shares of SPX from $54.00 to $60.00 and gave the company an outperform rating in a research report on Monday, December 21st. Seaport Global Securities reaffirmed a buy rating on shares of SPX in a research report on Friday, October 30th. Finally, Zacks Investment Research downgraded shares of SPX from a buy rating to a hold rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $54.50.

In other SPX news, insider John William Swann III sold 19,663 shares of the stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $57.71, for a total transaction of $1,134,751.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.39% of the stock is owned by corporate insiders.

About SPX

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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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