SPX Technologies (NYSE:SPXC – Get Free Report) issued its earnings results on Wednesday. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01, Briefing.com reports. The business had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. SPX Technologies updated its FY24 guidance to $5.45-5.60 EPS and its FY 2024 guidance to 5.450-5.600 EPS.
SPX Technologies Price Performance
Shares of NYSE SPXC traded down $14.41 during mid-day trading on Thursday, hitting $144.56. 370,140 shares of the stock were exchanged, compared to its average volume of 248,088. SPX Technologies has a twelve month low of $77.90 and a twelve month high of $173.30. The stock’s fifty day simple moving average is $158.23 and its two-hundred day simple moving average is $146.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. The company has a market cap of $6.68 billion, a P/E ratio of 70.67, a PEG ratio of 1.58 and a beta of 1.21.
Analysts Set New Price Targets
Separately, Oppenheimer cut SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.
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.
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