William Blair Has Optimistic Outlook of SPXC FY2024 Earnings

SPX Technologies, Inc. (NYSE:SPXC) – Research analysts at William Blair raised their FY2024 earnings per share (EPS) estimates for SPX Technologies in a research report issued on Thursday, October 31st. William Blair analyst R. Sparenblek now anticipates that the company will earn $5.60 per share for the year, up from their prior forecast of $5.55. The consensus estimate for SPX Technologies’ current full-year earnings is $5.54 per share. William Blair also issued estimates for SPX Technologies’ Q4 2024 earnings at $1.53 EPS and FY2025 earnings at $6.40 EPS.

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

SPX Technologies Trading Up 1.2 %

Shares of NYSE:SPXC opened at $145.20 on Friday. The company has a market capitalization of $6.72 billion, a P/E ratio of 39.03, a P/E/G ratio of 1.59 and a beta of 1.21. SPX Technologies has a 1 year low of $77.90 and a 1 year high of $173.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The business’s 50 day simple moving average is $157.76 and its 200 day simple moving average is $146.47.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 20.17% and a net margin of 9.11%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share.

Institutional Investors Weigh In On SPX Technologies

Large investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in shares of SPX Technologies in the 3rd quarter valued at $28,000. Crewe Advisors LLC bought a new position in shares of SPX Technologies in the 2nd quarter valued at $28,000. Canada Pension Plan Investment Board bought a new position in shares of SPX Technologies in the 2nd quarter valued at $28,000. UMB Bank n.a. lifted its stake in shares of SPX Technologies by 965.0% in the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 193 shares during the last quarter. Finally, ST Germain D J Co. Inc. bought a new position in shares of SPX Technologies in the 3rd quarter valued at $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.