SPX Technologies (NYSE:SPXC – Get Free Report) issued its earnings results on Wednesday. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01, Briefing.com reports. The company had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $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 Stock Performance
SPXC traded down $14.41 during trading on Thursday, hitting $144.56. The stock had a trading volume of 370,140 shares, compared to its average volume of 248,088. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. SPX Technologies has a 12 month low of $77.90 and a 12 month high of $173.30. The company has a 50 day simple moving average of $158.23 and a 200-day simple moving average of $146.32. The firm has a market cap of $6.68 billion, a PE ratio of 70.67, a P/E/G ratio of 1.58 and a beta of 1.21.
Analysts Set New Price Targets
Separately, Oppenheimer downgraded shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.
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.
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