FY2024 Earnings Estimate for SPXC Issued By Seaport Res Ptn

SPX Technologies, Inc. (NYSE:SPXC) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings estimates for SPX Technologies in a research note issued on Tuesday, December 24th. Seaport Res Ptn analyst W. Liptak now expects that the company will post earnings per share of $5.55 for the year, up from their prior forecast of $5.50. The consensus estimate for SPX Technologies’ current full-year earnings is $5.56 per share. Seaport Res Ptn also issued estimates for SPX Technologies’ Q4 2024 earnings at $1.49 EPS and Q2 2025 earnings at $1.47 EPS.

SPX Technologies (NYSE:SPXC) last released its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 earnings per share.

Several other brokerages also recently issued reports on SPXC. Wolfe Research began coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price for the company. Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $164.00.

SPX Technologies Trading Up 0.7 %

NYSE SPXC opened at $147.66 on Friday. The company has a market cap of $6.85 billion, a PE ratio of 39.69, a PEG ratio of 1.55 and a beta of 1.26. SPX Technologies has a 12 month low of $95.00 and a 12 month high of $183.83. The stock has a 50 day moving average of $161.30 and a 200-day moving average of $154.64. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

Institutional Trading of SPX Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of SPX Technologies in the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board bought a new stake in SPX Technologies in the second quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in SPX Technologies in the third quarter valued at approximately $28,000. UMB Bank n.a. boosted its holdings in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 193 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of SPX Technologies during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.