SPX Corp (SPW) Declares Quarterly Dividend of $0.25
SPX Corp (NYSE:SPW) declared a quarterly dividend on Thursday, February 21st. Shareholders of record on Thursday, March 14th will be given a dividend of $0.25 per share on Tuesday, April 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%.
SPW has been the subject of a number of recent research reports. Analysts at TheStreet downgraded shares of SPX Corp from a “buy” rating to a “hold” rating in a research note to investors on Monday. On a related note, analysts at Robert W. Baird raised their price target on shares of SPX Corp from $86.00 to $95.00 in a research note to investors on Friday, February 15th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of SPX Corp from $74.00 to $76.00 in a research note to investors on Friday, February 15th. They now have a “neutral” rating on the stock.
Nine analysts have rated the stock with a buy rating, three have assigned an overweight rating, and five have issued a hold rating to the company. SPX Corp has a consensus rating of “overweight” and an average price target of $83.12.
Shares of SPX Corp (SPW) opened at 79.84 on Thursday. SPX Corp (SPW) has a 52 week low of $56.31 and a 52 week high of $80.88. The stock’s 50-day moving average is currently $73.58. The company has a market cap of $3.960 billion and a P/E ratio of 15.41.
SPX Corp last released its earnings data on Thursday, February 14th. The company reported $1.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.56 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $1.79 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. SPX Corp has set its FY13 guidance at $4.60-5.10 EPS. On average, analysts predict that SPX Corp (SPW) will post $5.00 earnings per share for the current fiscal year.
SPX Corporation is a global, multi-industry manufacturer of specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries globally.
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