SPX Flow (FLOW) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
SPX Flow (NYSE:FLOW) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02, Bloomberg Earnings reports. The firm had revenue of $529.20 million during the quarter, compared to the consensus estimate of $515.37 million. SPX Flow had a return on equity of 6.13% and a net margin of 2.38%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. SPX Flow updated its FY18 guidance to $2.21-2.56 EPS.
Shares of SPX Flow (NYSE FLOW) opened at $48.69 on Thursday. SPX Flow has a one year low of $31.06 and a one year high of $49.50. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.19 and a current ratio of 1.55. The firm has a market capitalization of $1,963.17, a PE ratio of 36.67, a PEG ratio of 0.66 and a beta of 2.43.
Several equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on SPX Flow from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird increased their price objective on SPX Flow from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada reissued a “hold” rating and issued a $50.00 price objective on shares of SPX Flow in a research note on Wednesday. Zacks Investment Research raised SPX Flow from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, January 23rd. Finally, UBS Group downgraded SPX Flow from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a research note on Monday, January 22nd. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. SPX Flow currently has a consensus rating of “Hold” and a consensus price target of $50.00.
A number of hedge funds have recently made changes to their positions in FLOW. Louisiana State Employees Retirement System raised its position in SPX Flow by 6.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the industrial products company’s stock valued at $865,000 after purchasing an additional 1,100 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of SPX Flow during the fourth quarter worth $254,000. Spitfire Capital LLC grew its stake in shares of SPX Flow by 3.5% during the third quarter. Spitfire Capital LLC now owns 263,984 shares of the industrial products company’s stock worth $10,179,000 after purchasing an additional 8,884 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of SPX Flow by 3.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 388,651 shares of the industrial products company’s stock worth $18,481,000 after purchasing an additional 11,173 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of SPX Flow by 21.5% during the third quarter. GSA Capital Partners LLP now owns 72,562 shares of the industrial products company’s stock worth $2,798,000 after purchasing an additional 12,818 shares during the period. 86.98% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This news story was reported by Daily Political and is the property of of Daily Political. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.dailypolitical.com/2018/02/08/spx-flow-flow-announces-quarterly-earnings-results-beats-expectations-by-0-02-eps.html.
SPX Flow Company Profile
SPX FLOW, Inc is a global supplier of engineered solutions. As of December 31, 2016, the Company had operations in over 30 countries and sales in over 150 countries around the world. The Company operates in three business segments: Food and Beverage, Power and Energy, and Industrial. Its product portfolio of pumps, valves, mixers, filters, air dryers, hydraulic tools, homogenizers, separators and heat exchangers, along with the related aftermarket parts and services, supports global industries, including food and beverage, oil and gas, power generation, chemical processing, compressed air and mining.
Receive News & Ratings for SPX Flow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Flow and related companies with MarketBeat.com's FREE daily email newsletter.