Seaport Res Ptn Has Negative Outlook for SPXC Q4 Earnings

SPX Technologies, Inc. (NYSE:SPXC) – Analysts at Seaport Res Ptn cut their Q4 2024 earnings per share (EPS) estimates for shares of SPX Technologies in a research note issued on Thursday, October 31st. Seaport Res Ptn analyst W. Liptak now expects that the company will post earnings per share of $1.44 for the quarter, down from their previous forecast of $1.49. The consensus estimate for SPX Technologies’ current full-year earnings is $5.58 per share. Seaport Res Ptn also issued estimates for SPX Technologies’ Q1 2025 earnings at $1.34 EPS, Q2 2025 earnings at $1.49 EPS and FY2025 earnings at $6.11 EPS.

Separately, Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

SPX Technologies Trading Up 5.2 %

SPXC stock opened at $155.60 on Monday. The firm’s 50-day moving average is $157.48 and its 200 day moving average is $147.36. The company has a market capitalization of $7.21 billion, a PE ratio of 41.83, a P/E/G ratio of 1.45 and a beta of 1.22. SPX Technologies has a 12 month low of $81.43 and a 12 month high of $173.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

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

Institutional Investors Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after acquiring an additional 78 shares in the last quarter. Evergreen Capital Management LLC grew its position in SPX Technologies by 4.3% during the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after buying an additional 146 shares during the period. Fifth Third Bancorp increased its holdings in SPX Technologies by 3.8% in the second quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock valued at $668,000 after buying an additional 174 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies during the 3rd quarter worth about $28,000. Finally, Xponance Inc. grew its position in shares of SPX Technologies by 7.1% during the 2nd quarter. Xponance Inc. now owns 2,864 shares of the company’s stock valued at $407,000 after acquiring an additional 189 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

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.