Seaport Res Ptn Has Positive Outlook of SPXC FY2024 Earnings

SPX Technologies, Inc. (NYSE:SPXC) – Investment analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for SPX Technologies in a research note issued on Tuesday, December 24th. Seaport Res Ptn analyst W. Liptak now forecasts that the company will post earnings per share of $5.55 for the year, up from their prior estimate 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 quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS.

Several other brokerages also recently weighed in on SPXC. Sidoti downgraded shares of SPX Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $187.00 to $175.00 in a research note on Friday, December 6th. Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of “Hold” and an average price target of $164.00.

SPX Technologies Trading Down 1.2 %

Shares of SPXC stock opened at $145.96 on Friday. The stock has a market cap of $6.77 billion, a P/E ratio of 39.24, a P/E/G ratio of 1.55 and a beta of 1.26. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies has a fifty-two week low of $95.00 and a fifty-two week high of $183.83. The business has a fifty day simple moving average of $160.94 and a 200-day simple moving average of $154.73.

Institutional Inflows and Outflows

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

SPX Technologies Company Profile

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.