What is Seaport Res Ptn’s Estimate for SPXC FY2024 Earnings?

SPX Technologies, Inc. (NYSE:SPXC) – Seaport Res Ptn raised their FY2024 EPS estimates for SPX Technologies in a report released on Tuesday, December 24th. Seaport Res Ptn analyst W. Liptak now forecasts that the company will post earnings of $5.55 per share for the year, up from their previous 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 quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The business 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%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS.

SPXC has been the topic of a number of other reports. Wolfe Research started coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective on the stock. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $187.00 to $175.00 in a report 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, SPX Technologies has a consensus rating of “Hold” and an average target price of $164.00.

SPX Technologies Stock Up 0.7 %

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

Institutional Investors Weigh In On SPX Technologies

Several large investors have recently made changes to their positions in SPXC. State Street Corp lifted its stake in SPX Technologies by 1.3% in the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock valued at $275,864,000 after purchasing an additional 22,177 shares during the last quarter. Earnest Partners LLC increased its stake in shares of SPX Technologies by 3.3% in the second quarter. Earnest Partners LLC now owns 1,066,426 shares of the company’s stock worth $151,582,000 after purchasing an additional 33,675 shares in the last quarter. Geode Capital Management LLC raised its position in shares of SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after purchasing an additional 8,916 shares during the period. Janus Henderson Group PLC lifted its stake in shares of SPX Technologies by 45.3% during the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after buying an additional 217,316 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in SPX Technologies by 74.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after buying an additional 267,965 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

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.